JPMorgan Chase & Co. Boosts Roblox (NYSE:RBLX) Price Target to $100.00

Roblox (NYSE:RBLX - Get Free Report) had its price target raised by analysts at JPMorgan Chase & Co. from $80.00 to $100.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 9.78% from the stock's current price.

Several other brokerages have also issued reports on RBLX. Roth Mkm lifted their price objective on shares of Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Oppenheimer lifted their price target on Roblox from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 5th. OTR Global upgraded Roblox from a "mixed" rating to a "positive" rating in a research note on Monday, February 3rd. Needham & Company LLC reiterated a "buy" rating on shares of Roblox in a research note on Friday, May 2nd. Finally, Moffett Nathanson downgraded shares of Roblox from a "neutral" rating to a "sell" rating and set a $34.00 target price for the company. in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Roblox currently has a consensus rating of "Moderate Buy" and an average target price of $72.14.

Roblox Trading Up 1.3%

Roblox stock traded up $1.14 during mid-day trading on Tuesday, hitting $91.09. The company's stock had a trading volume of 6,555,395 shares, compared to its average volume of 7,772,491. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The company has a 50 day moving average of $68.92 and a 200-day moving average of $63.46. Roblox has a one year low of $34.41 and a one year high of $91.96. The stock has a market cap of $61.78 billion, a PE ratio of -62.82 and a beta of 1.46.

Roblox (NYSE:RBLX - Get Free Report) last posted 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 net margin of 25.97% and a negative return on equity of 665.98%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business posted ($0.43) earnings per share. The business's revenue for the quarter was up 30.6% on a year-over-year basis. On average, research analysts anticipate that Roblox will post -1.49 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Baszucki sold 34,099 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $57.05, for a total transaction of $1,945,347.95. Following the sale, the chief executive officer now owns 221,983 shares in the company, valued at approximately $12,664,130.15. This trade represents a 13.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amy Marie Rawlings sold 6,391 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total transaction of $515,498.06. Following the sale, the chief accounting officer now directly owns 73,931 shares in the company, valued at approximately $5,963,274.46. The trade was a 7.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,327,303 shares of company stock worth $254,013,707. 12.92% of the stock is owned by company insiders.

Institutional Trading of Roblox

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Roblox by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock valued at $3,359,854,000 after acquiring an additional 4,400,624 shares during the period. FMR LLC grew its position in shares of Roblox by 89.4% in the fourth quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after purchasing an additional 18,715,837 shares during the period. Ieq Capital LLC increased its stake in shares of Roblox by 13.8% during the first quarter. Ieq Capital LLC now owns 18,889,973 shares of the company's stock worth $1,101,097,000 after purchasing an additional 2,297,350 shares in the last quarter. Wealthfront Advisers LLC increased its stake in shares of Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock worth $1,063,365,000 after purchasing an additional 17,312,325 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Roblox by 217.4% during the 1st quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company's stock worth $504,387,000 after purchasing an additional 6,007,322 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

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.