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

Roblox (NYSE:RBLX) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has a $48.00 price target on the stock, up from their prior price target of $41.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 37.30% from the company’s current price.

A number of other analysts have also recently commented on the stock. Roth Mkm upped their price target on shares of Roblox from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Benchmark reissued a “buy” rating and issued a $46.00 price target on shares of Roblox in a report on Tuesday, January 23rd. The Goldman Sachs Group raised shares of Roblox from a “sell” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $48.00 in a report on Thursday, February 8th. Needham & Company LLC increased their target price on shares of Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $53.00 price target on shares of Roblox in a report on Monday. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.40.

Roblox Trading Down 1.1 %

NYSE:RBLX opened at $34.96 on Tuesday. Roblox has a one year low of $24.88 and a one year high of $47.20. The company has a debt-to-equity ratio of 14.64, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50-day moving average of $39.15 and a 200-day moving average of $38.97. The company has a market cap of $20.66 billion, a PE ratio of -18.70 and a beta of 1.64.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.48) EPS. As a group, equities research analysts expect that Roblox will post -2.1 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, Director Gregory Baszucki sold 8,333 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $41.17, for a total transaction of $343,069.61. Following the completion of the sale, the director now directly owns 9,786,603 shares in the company, valued at approximately $402,914,445.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Gregory Baszucki sold 8,333 shares of Roblox stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $41.17, for a total value of $343,069.61. Following the completion of the sale, the director now directly owns 9,786,603 shares in the company, valued at $402,914,445.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $36.69, for a total transaction of $146,760.00. Following the sale, the insider now owns 359,453 shares of the company’s stock, valued at $13,188,330.57. The disclosure for this sale can be found here. Insiders sold a total of 707,707 shares of company stock valued at $29,526,367 in the last three months. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Roblox in the fourth quarter worth $25,000. Blue Trust Inc. boosted its stake in shares of Roblox by 566.5% during the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after purchasing an additional 912 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Roblox in the first quarter valued at approximately $52,000. Allworth Financial LP boosted its stake in Roblox by 90.2% in the fourth quarter. Allworth Financial LP now owns 1,238 shares of the company’s stock valued at $57,000 after acquiring an additional 587 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Roblox in the fourth quarter valued at 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.