Roblox (NYSE:RBLX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Roblox (NYSE:RBLX) had its target price raised by analysts at JPMorgan Chase & Co. from $100.00 to $120.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 14.35% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Roblox from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $95.00 price target (up previously from $82.00) on shares of Roblox in a research report on Friday, May 30th. Barclays upped their price objective on shares of Roblox from $46.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. The Goldman Sachs Group raised their target price on Roblox from $63.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. Finally, Oppenheimer restated an “outperform” rating and issued a $125.00 price target (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $80.57.

Roblox Stock Performance

RBLX traded down $0.65 during midday trading on Monday, hitting $104.95. 1,880,008 shares of the company were exchanged, compared to its average volume of 7,970,448. The company’s 50 day simple moving average is $84.13 and its 200 day simple moving average is $69.33. The firm has a market capitalization of $71.18 billion, a price-to-earnings ratio of -78.32 and a beta of 1.56. Roblox has a 1-year low of $35.30 and a 1-year high of $106.76. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The company’s revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.43) earnings per share. As a group, sell-side analysts predict that Roblox will post -1.49 earnings per share for the current year.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 38,523 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $105.13, for a total transaction of $4,049,922.99. Following the transaction, the chief executive officer now directly owns 875 shares in the company, valued at $91,988.75. The trade was a 97.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Guthrie sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $58.79, for a total value of $2,939,500.00. Following the completion of the sale, the chief financial officer now directly owns 516,434 shares of the company’s stock, valued at $30,361,154.86. This trade represents a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,712,649 shares of company stock valued at $584,262,803 over the last 90 days. 12.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Roblox

Hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC lifted its holdings in Roblox by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock valued at $1,873,000 after acquiring an additional 161 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Roblox by 1.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company’s stock valued at $775,000 after purchasing an additional 163 shares during the last quarter. Commerce Bank lifted its stake in shares of Roblox by 2.7% in the 1st quarter. Commerce Bank now owns 7,257 shares of the company’s stock valued at $423,000 after purchasing an additional 191 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Roblox by 6.1% during the 1st quarter. Advisors Asset Management Inc. now owns 3,323 shares of the company’s stock worth $194,000 after purchasing an additional 192 shares during the period. Finally, Rakuten Securities Inc. increased its position in shares of Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 94.46% 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.