Roblox (NYSE:RBLX) Upgraded by JPMorgan Chase & Co. to “Overweight”

Roblox (NYSE:RBLX) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a $48.00 target price on the stock, up from their prior target price of $41.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 37.26% from the company’s previous close.

A number of other research firms have also recently weighed in on RBLX. Barclays raised shares of Roblox from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $26.00 to $46.00 in a research note on Thursday, February 8th. Roth Mkm boosted their price objective on shares of Roblox from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Wedbush boosted their price objective on shares of Roblox from $53.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Needham & Company LLC boosted their price objective on shares of Roblox from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Benchmark reissued a “buy” rating and issued a $46.00 price objective on shares of Roblox in a research note on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Roblox Stock Performance

NYSE RBLX opened at $34.97 on Tuesday. The firm’s fifty day moving average price is $38.84 and its two-hundred day moving average price is $38.99. The stock has a market cap of $20.67 billion, a PE ratio of -18.70 and a beta of 1.63. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07.

Roblox (NYSE:RBLX) last posted its earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. The firm had revenue of $1.13 billion for 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 company’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. On average, equities analysts expect that Roblox will post -2.1 EPS for the current fiscal year.

Insider Transactions at Roblox

In other news, insider Mark Reinstra sold 12,531 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.75, for a total transaction of $510,638.25. Following the transaction, the insider now owns 249,779 shares of the company’s stock, valued at approximately $10,178,494.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Mark Reinstra sold 12,531 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.75, for a total value of $510,638.25. Following the transaction, the insider now owns 249,779 shares of the company’s stock, valued at approximately $10,178,494.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Guthrie sold 10,972 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $445,902.08. Following the completion of the transaction, the chief financial officer now directly owns 233,629 shares in the company, valued at approximately $9,494,682.56. The disclosure for this sale can be found here. Insiders have sold 699,374 shares of company stock valued at $29,183,298 in the last 90 days. 22.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roblox

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Roblox in the 4th quarter valued at about $25,000. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 912 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Roblox during the 1st quarter worth approximately $52,000. Allworth Financial LP increased its stake in shares of 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 purchasing an additional 587 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Roblox during the 4th quarter worth approximately $58,000. Hedge funds and other 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.