Roblox (NYSE:RBLX) Reaches New 52-Week High Following Analyst Upgrade

Roblox Corporation (NYSE:RBLX - Get Free Report)'s stock price hit a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $100.00 to $120.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roblox traded as high as $106.17 and last traded at $105.13, with a volume of 563957 shares. The stock had previously closed at $105.59.

A number of other equities analysts also recently commented on RBLX. Wedbush restated a "hold" rating on shares of Roblox in a research report on Monday, June 16th. FBN Securities started coverage on Roblox in a research note on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price target on the stock. Bank of America upped their price target on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Piper Sandler reiterated an "overweight" rating and set a $105.00 price target (up from $85.00) on shares of Roblox in a research report on Thursday, June 5th. Finally, Roth Mkm boosted their target price on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $80.57.

Insider Buying and Selling

In other news, CEO David Baszucki sold 1,375,002 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the completion of the transaction, the chief executive officer owned 221,983 shares of the company's stock, valued at $16,024,952.77. This represents a 86.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 6,712,649 shares of company stock valued at $584,262,803 in the last ninety days. Corporate insiders own 12.92% of the company's stock.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC grew its position in Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock valued at $1,873,000 after acquiring an additional 161 shares during the period. SBI Securities Co. Ltd. lifted its position in Roblox by 1.2% during the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock valued at $775,000 after buying an additional 163 shares in the last quarter. Commerce Bank grew its stake in Roblox by 2.7% during the first quarter. Commerce Bank now owns 7,257 shares of the company's stock worth $423,000 after buying an additional 191 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Roblox by 6.1% during the 1st quarter. Advisors Asset Management Inc. now owns 3,323 shares of the company's stock valued at $194,000 after acquiring an additional 192 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its position in Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock worth $55,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 94.46% of the company's stock.

Roblox Stock Down 0.5%

The firm has a 50-day simple moving average of $84.13 and a 200 day simple moving average of $69.33. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $71.29 billion, a PE ratio of -78.44 and a beta of 1.56.

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

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.