Roblox (NYSE:RBLX) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Roblox (NYSE:RBLX - Free Report) from a neutral rating to an overweight rating in a research report report published on Tuesday, Marketbeat.com reports. The firm currently has $48.00 price objective on the stock, up from their previous price objective of $41.00.

Other analysts have also recently issued research reports about the stock. Wedbush increased their price target on shares of Roblox from $53.00 to $56.00 and gave the company an outperform rating in a research note on Thursday, February 8th. The Goldman Sachs Group upgraded shares of Roblox from a sell rating to a neutral rating and increased their price target for the company from $35.00 to $48.00 in a research note on Thursday, February 8th. Benchmark reiterated a buy rating and issued a $46.00 price target on shares of Roblox in a research note on Tuesday, January 23rd. BMO Capital Markets increased their price target on shares of Roblox from $55.00 to $57.00 and gave the company an outperform rating in a research note on Thursday, February 8th. Finally, Needham & Company LLC increased their price objective on shares of Roblox from $51.00 to $55.00 and gave the company a buy rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $47.60.

Roblox Stock Up 3.8 %

RBLX traded up $1.34 during trading hours on Tuesday, hitting $36.30. 8,680,911 shares of the company's stock were exchanged, compared to its average volume of 7,558,783. Roblox has a 1-year low of $24.88 and a 1-year high of $47.20. The stock's 50-day moving average is $39.03 and its two-hundred day moving average is $39.01. The stock has a market cap of $21.46 billion, a price-to-earnings ratio of -19.41 and a beta of 1.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64.

Roblox (NYSE:RBLX - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The firm's revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.48) earnings per share. Sell-side analysts predict that Roblox will post -2.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO David Baszucki sold 200,000 shares of Roblox stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.09, for a total value of $8,818,000.00. Following the completion of the sale, the chief executive officer now owns 1 shares in the company, valued at approximately $44.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the sale, the chief accounting officer now owns 96,125 shares in the company, valued at approximately $3,906,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Baszucki sold 200,000 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the sale, the chief executive officer now owns 1 shares of the company's stock, valued at approximately $44.09. The disclosure for this sale can be found here. Insiders sold 707,707 shares of company stock worth $29,526,367 in the last quarter. 22.15% of the stock is owned by corporate insiders.

Institutional Trading of Roblox

A number of hedge funds and other institutional investors have recently bought and sold shares of RBLX. Allspring Global Investments Holdings LLC purchased a new position in Roblox during the 4th quarter worth $25,000. Blue Trust Inc. boosted its holdings in Roblox by 566.5% during the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company's stock worth $49,000 after acquiring an additional 912 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Roblox during the 1st quarter worth $52,000. Allworth Financial LP boosted its holdings in Roblox by 90.2% during the 4th quarter. Allworth Financial LP now owns 1,238 shares of the company's stock worth $57,000 after acquiring an additional 587 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of Roblox in the 4th quarter worth about $58,000. Institutional investors own 91.08% 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.