Roblox (NYSE:RBLX) Given New $72.00 Price Target at JPMorgan Chase & Co.

Roblox (NYSE:RBLX) had its price target hoisted by JPMorgan Chase & Co. from $62.00 to $72.00 in a research note released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler boosted their price objective on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $49.00 price target on shares of Roblox in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley raised shares of Roblox from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Roblox Trading Down 0.5 %

RBLX stock opened at $61.75 on Friday. Roblox has a twelve month low of $29.55 and a twelve month high of $63.58. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of -37.65 and a beta of 1.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm’s fifty day simple moving average is $55.94 and its two-hundred day simple moving average is $46.62.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted ($0.45) EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts anticipate that Roblox will post -1.56 earnings per share for the current year.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 166,668 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the transaction, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at $5,722,073.25. This represents a 55.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Guthrie sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $49.44, for a total value of $494,400.00. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at approximately $17,444,607.36. This represents a 2.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,254,601 shares of company stock valued at $65,622,735. Corporate insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc increased its position in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Roblox in the third quarter worth about $27,000. Frazier Financial Advisors LLC lifted its holdings in shares of Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the period. GAMMA Investing LLC boosted its position in Roblox by 132.8% in the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after buying an additional 530 shares during the last quarter. Finally, Huntington National Bank increased its holdings in Roblox by 277.0% in the 3rd quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after buying an additional 770 shares during the period. Hedge funds and other institutional investors own 94.46% 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.