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

Roblox (NYSE:RBLX - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $80.00 to $100.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 4.38% from the stock's current price.

RBLX has been the topic of several other research reports. Wedbush reiterated an "outperform" rating and issued a $83.00 price target on shares of Roblox in a report on Thursday, April 24th. Roth Mkm raised their target price on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Morgan Stanley dropped their target price on Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Citigroup restated a "buy" rating and issued a $100.00 target price (up previously from $85.00) on shares of Roblox in a report on Thursday, May 29th. Finally, Benchmark raised their target price on Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $74.91.

Roblox Stock Up 1.7%

NYSE:RBLX traded up $1.60 on Tuesday, hitting $95.80. The stock had a trading volume of 14,094,905 shares, compared to its average volume of 7,850,757. The business's fifty day moving average is $70.97 and its 200 day moving average is $64.25. The company has a market cap of $64.98 billion, a PE ratio of -66.07 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. Roblox has a 52 week low of $34.41 and a 52 week high of $96.28.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.09. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The company's quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) earnings per share. On average, equities research analysts expect that Roblox will post -1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CAO Amy Marie Rawlings sold 6,391 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total value of $515,498.06. Following the completion of the sale, the chief accounting officer now directly owns 73,931 shares of the company's stock, valued at $5,963,274.46. This trade represents a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Manuel Bronstein sold 26,798 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $90.20, for a total value of $2,417,179.60. Following the completion of the sale, the insider now directly owns 468,486 shares of the company's stock, valued at $42,257,437.20. This represents a 5.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,354,101 shares of company stock worth $256,430,887. 12.92% of the stock is owned by company insiders.

Institutional Trading of Roblox

A number of large investors have recently bought and sold shares of the company. Strs Ohio purchased a new stake in Roblox in the first quarter worth $836,000. Acadian Asset Management LLC increased its position in Roblox by 10.4% in the first quarter. Acadian Asset Management LLC now owns 1,405,813 shares of the company's stock worth $81,921,000 after buying an additional 132,051 shares during the last quarter. IFM Investors Pty Ltd increased its position in Roblox by 1.0% in the first quarter. IFM Investors Pty Ltd now owns 86,755 shares of the company's stock worth $5,057,000 after buying an additional 817 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Roblox in the first quarter worth $728,000. Finally, Fortis Capital Advisors LLC purchased a new stake in Roblox in the first quarter worth $728,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.