Roblox (NYSE:RBLX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Roblox (NYSE:RBLX - Free Report) had its price target upped by JPMorgan Chase & Co. from $120.00 to $125.00 in a report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. FBN Securities began coverage on Roblox in a research report on Friday, March 28th. They set a "sector perform" rating and a $65.00 price objective for the company. BMO Capital Markets reiterated an "outperform" rating and set a $95.00 price target (up from $82.00) on shares of Roblox in a report on Friday, May 30th. Macquarie boosted their price target on Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Wedbush raised shares of Roblox to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Roth Mkm boosted their target price on shares of Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $86.68.

Roblox Trading Up 2.8%

Shares of RBLX stock traded up $3.35 during trading hours on Wednesday, reaching $122.37. 7,695,203 shares of the stock traded hands, compared to its average volume of 8,107,182. The business has a fifty day moving average price of $94.41 and a 200 day moving average price of $73.41. Roblox has a 1-year low of $35.30 and a 1-year high of $123.33. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $83.00 billion, a PE ratio of -91.49 and a beta of 1.60.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The firm's revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) earnings per share. On average, equities research analysts forecast that Roblox will post -1.49 EPS for the current year.

Insiders Place Their Bets

In related news, Director Anthony P. Lee sold 66,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the transaction, the director directly owned 284,488 shares in the company, valued at $29,555,458.32. The trade was a 18.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 139,507 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the completion of the transaction, the chief executive officer owned 211,559 shares of the company's stock, valued at $22,253,891.21. The trade was a 39.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,645,690 shares of company stock worth $592,729,502 in the last ninety days. Insiders own 12.92% of the company's stock.

Institutional Investors Weigh In On Roblox

Several hedge funds have recently bought and sold shares of RBLX. Gordian Capital Singapore Pte Ltd increased its position in shares of Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after buying an additional 240 shares in the last quarter. ORG Partners LLC acquired a new position in Roblox in the second quarter valued at about $33,000. Larson Financial Group LLC increased its holdings in shares of Roblox by 819.0% in the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after acquiring an additional 516 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Roblox during the first quarter worth about $39,000. Finally, Colonial Trust Co SC bought a new position in shares of Roblox during the 4th quarter valued at about $41,000. 94.46% of the stock is currently 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.