Roblox (NYSE:RBLX) Price Target Raised to $125.00 at JPMorgan Chase & Co.

Roblox (NYSE:RBLX) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $120.00 to $125.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 11.23% from the company’s previous close.

Several other research firms also recently commented on RBLX. Oppenheimer reiterated an “outperform” rating and issued a $125.00 price objective (up from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Morgan Stanley reduced their price objective on Roblox from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Roth Mkm lifted their price objective on Roblox from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Citigroup lifted their price objective on Roblox from $100.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, Needham & Company LLC restated a “buy” rating on shares of Roblox in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.68.

Roblox Stock Performance

Shares of RBLX stock opened at $112.38 on Wednesday. The stock has a fifty day moving average of $93.44 and a 200 day moving average of $73.09. Roblox has a 52 week low of $35.30 and a 52 week high of $113.09. The firm has a market capitalization of $76.22 billion, a price-to-earnings ratio of -83.86 and a beta of 1.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX) last announced its quarterly 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. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted ($0.43) earnings per share. The firm’s revenue was up 30.6% on a year-over-year basis. As a group, research analysts expect that Roblox will post -1.49 earnings per share for the current year.

Insider Activity

In other news, CEO David Baszucki sold 1,375,002 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the transaction, the chief executive officer owned 221,983 shares of the company’s stock, valued at approximately $16,024,952.77. This represents a 86.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 6,645,690 shares of company stock worth $592,729,502. 12.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of Roblox by 124.7% in the second quarter. Fifth Third Bancorp now owns 537 shares of the company’s stock worth $56,000 after acquiring an additional 298 shares during the last quarter. Gordian Capital Singapore Pte Ltd raised its position in Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock valued at $32,000 after purchasing an additional 240 shares during the period. Larson Financial Group LLC raised its holdings in shares of Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company’s stock valued at $34,000 after buying an additional 516 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Roblox in the 1st quarter valued at $39,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Roblox by 82.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 688 shares of the company’s stock worth $72,000 after purchasing an additional 310 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Company Profile

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.