JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its price objective increased by research analysts at JPMorgan Chase & Co. from $62.00 to $72.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 18.03% from the stock’s previous close.

A number of other analysts have also recently commented on the company. HSBC began coverage on Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective for the company. Benchmark increased their price objective on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wedbush restated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Canaccord Genuity Group increased their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BTIG Research upped their price objective on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

Roblox Stock Performance

Shares of NYSE:RBLX traded down $1.05 during midday trading on Friday, reaching $61.00. 2,212,445 shares of the company’s stock traded hands, compared to its average volume of 5,492,537. Roblox has a one year low of $29.55 and a one year high of $63.58. The stock has a 50 day moving average of $55.74 and a 200 day moving average of $46.44. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $37.06 billion, a price-to-earnings ratio of -37.20 and a beta of 1.43.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned ($0.45) earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Roblox will post -1.56 EPS for the current fiscal year.

Insider Activity at Roblox

In other news, CFO Michael Guthrie sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $49.44, for a total value of $494,400.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at approximately $17,444,607.36. This trade represents a 2.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the transaction, the insider now owns 278,161 shares of the company’s stock, valued at $16,620,119.75. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,254,601 shares of company stock valued at $65,622,735 over the last 90 days. 22.15% of the stock is owned by corporate insiders.

Institutional Trading of Roblox

A number of large investors have recently made changes to their positions in RBLX. V Square Quantitative Management LLC bought a new stake in Roblox during the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC lifted its stake in Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after acquiring an additional 624 shares during the period. Versant Capital Management Inc grew its holdings in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the period. Finally, Huntington National Bank boosted its stake in shares of Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock valued at $46,000 after purchasing an additional 770 shares in the last quarter. 94.46% of the stock is 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.