Roblox (NYSE:RBLX) Rating Increased to Overweight at JPMorgan Chase & Co.

Roblox (NYSE:RBLX) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $48.00 price objective on the stock, up from their previous price objective of $41.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 37.26% from the stock’s previous close.

Several other brokerages also recently commented on RBLX. Needham & Company LLC raised their target price on Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Roth Mkm raised their target price on Roblox from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. BMO Capital Markets raised their target price on Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. The Goldman Sachs Group upgraded Roblox from a “sell” rating to a “neutral” rating and raised their target price for the company from $35.00 to $48.00 in a report on Thursday, February 8th. Finally, Stifel Nicolaus restated a “buy” rating and set a $53.00 price objective on shares of Roblox in a research note on Monday. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Roblox Stock Performance

NYSE RBLX opened at $34.97 on Tuesday. The business’s 50-day moving average price is $38.84 and its 200 day moving average price is $38.99. The company has a market capitalization of $20.67 billion, a PE ratio of -18.70 and a beta of 1.63. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. Roblox has a twelve month low of $24.88 and a twelve month high of $47.20.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the business posted ($0.48) EPS. On average, research analysts predict that Roblox will post -2.1 earnings per share for the current year.

Insider Activity at Roblox

In related news, insider Mark Reinstra sold 12,531 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.75, for a total transaction of $510,638.25. Following the completion of the transaction, the insider now owns 249,779 shares in the company, valued at approximately $10,178,494.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Roblox news, CEO David Baszucki sold 100,000 shares of Roblox stock in a transaction on Monday, April 8th. The stock was sold at an average price of $38.31, for a total transaction of $3,831,000.00. Following the sale, the chief executive officer now owns 148,845 shares of the company’s stock, valued at approximately $5,702,251.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 12,531 shares of Roblox stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.75, for a total value of $510,638.25. Following the sale, the insider now directly owns 249,779 shares in the company, valued at approximately $10,178,494.25. The disclosure for this sale can be found here. Insiders sold 699,374 shares of company stock worth $29,183,298 in the last 90 days. 22.15% of the stock is currently owned by company insiders.

Institutional Trading of Roblox

Several hedge funds have recently added to or reduced their stakes in the business. Simplicity Wealth LLC bought a new stake in Roblox during the 1st quarter valued at $255,000. Assenagon Asset Management S.A. bought a new stake in shares of Roblox in the 1st quarter worth $21,304,000. Sweet Financial Partners LLC bought a new stake in shares of Roblox in the 1st quarter worth $247,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Roblox by 65.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 258,215 shares of the company’s stock worth $9,859,000 after buying an additional 102,098 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Roblox by 22.2% in the 1st quarter. Raymond James & Associates now owns 154,530 shares of the company’s stock worth $5,900,000 after buying an additional 28,045 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.