Roblox (NYSE:RBLX) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Roblox (NYSE:RBLX) from a neutral rating to an overweight rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have $48.00 target price on the stock, up from their previous target price of $41.00.

Several other analysts have also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Roblox from $55.00 to $57.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Roth Mkm boosted their price target 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. Barclays upgraded shares of Roblox from an underweight rating to an equal weight rating and boosted their price target for the stock from $26.00 to $46.00 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. Finally, Wedbush boosted their price target 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. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $47.60.

Roblox Trading Up 1.6 %

RBLX opened at $35.52 on Tuesday. 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 has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The firm’s fifty day moving average is $38.67 and its 200 day moving average is $38.96.

Roblox (NYSE:RBLX) last released its earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company earned ($0.48) EPS. Roblox’s revenue for the quarter was up 25.3% on a year-over-year basis. Research analysts forecast that Roblox will post -2.1 EPS for the current fiscal year.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the transaction, the chief executive officer now directly owns 1 shares in the company, valued at approximately $44.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roblox news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.15, for a total value of $8,830,000.00. Following the transaction, the chief executive officer now directly owns 1 shares in the company, valued at approximately $44.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $36.06, for a total transaction of $1,081,800.00. Following the completion of the transaction, the chief financial officer now owns 396,709 shares in the company, valued at $14,305,326.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 699,374 shares of company stock worth $29,183,298. Insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several hedge funds have recently modified their holdings of RBLX. Vanguard Group Inc. lifted its position in shares of Roblox by 29.0% in the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after purchasing an additional 10,025,779 shares during the period. Ieq Capital LLC lifted its position in Roblox by 158.0% during the third quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock valued at $265,035,000 after acquiring an additional 5,604,995 shares during the last quarter. Franklin Resources Inc. lifted its position in Roblox by 195.1% during the fourth quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock valued at $357,043,000 after acquiring an additional 5,162,833 shares during the last quarter. Morgan Stanley lifted its position in Roblox by 13.7% during the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after acquiring an additional 4,927,848 shares during the last quarter. Finally, Norges Bank purchased a new stake in Roblox during the fourth quarter valued at approximately $216,194,000. 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.