Roblox (NYSE:RBLX) Price Target Cut to $46.00 by Analysts at JPMorgan Chase & Co.

Roblox (NYSE:RBLX) had its target price lowered by JPMorgan Chase & Co. from $53.00 to $46.00 in a research report sent to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms also recently commented on RBLX. The Goldman Sachs Group reiterated a “buy” rating and issued a $55.00 target price on shares of Roblox in a report on Friday. Citigroup reduced their target price on shares of Roblox from $70.00 to $60.00 and set a “buy” rating for the company in a report on Monday, August 3rd. TD Cowen decreased their price target on shares of Roblox from $49.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, July 31st. BTIG Research upped their price target on Roblox from $41.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Canaccord Genuity Group set a $58.00 price objective on Roblox in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Roblox has a consensus rating of “Hold” and an average target price of $53.19.

Roblox Stock Up 0.0%

RBLX opened at $43.01 on Friday. The stock’s 50 day moving average price is $46.34 and its 200 day moving average price is $52.69. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $28.87 billion, a P/E ratio of -31.17 and a beta of 1.45. Roblox has a 12 month low of $33.88 and a 12 month high of $119.85.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 29th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.11. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Roblox had a negative net margin of 16.48% and a negative return on equity of 303.93%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm posted ($0.37) earnings per share. As a group, research analysts predict that Roblox will post -1.41 earnings per share for the current year.

Insider Activity

In other news, CFO Naveen K. Chopra sold 17,509 shares of Roblox stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $664,641.64. Following the transaction, the chief financial officer directly owned 363,249 shares of the company’s stock, valued at $13,788,932.04. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Baszucki sold 52,568 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $1,995,481.28. Following the sale, the chief executive officer owned 799,646 shares in the company, valued at $30,354,562.16. This represents a 6.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 186,390 shares of company stock worth $7,283,371. 10.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kestra Private Wealth Services LLC grew its position in Roblox by 89.7% during the third quarter. Kestra Private Wealth Services LLC now owns 14,462 shares of the company’s stock valued at $613,000 after purchasing an additional 6,837 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in Roblox by 72.2% in the third quarter. Chicago Partners Investment Group LLC now owns 41,890 shares of the company’s stock worth $2,216,000 after purchasing an additional 17,564 shares in the last quarter. Rakuten Investment Management Inc. lifted its holdings in shares of Roblox by 14.7% during the third quarter. Rakuten Investment Management Inc. now owns 39,300 shares of the company’s stock valued at $1,618,000 after acquiring an additional 5,037 shares during the period. Provenance Wealth Advisors LLC acquired a new position in shares of Roblox in the 3rd quarter worth approximately $149,000. Finally, Gerber Kawasaki Wealth & Investment Management bought a new stake in Roblox during the 3rd quarter worth about $366,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Roblox Company Profile

Roblox Corporation operates Roblox, an online platform where users can create, publish, and participate in interactive digital experiences. The platform supports a broad range of user-generated content, including games, social spaces, entertainment, educational activities, and virtual events.

Roblox provides development tools through Roblox Studio, enabling creators and developers to design experiences and build virtual items and environments. Users can customize avatars, communicate with others, and access content across computers, mobile devices, consoles, and other supported platforms.