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Roblox Corp (NYSE:RBLX) shares are trading higher Tuesday after JPMorgan upgraded the stock from Neutral to Overweight and raised its price target from $41 to $48.
The Details: JPMorgan analyst Cory Carpenter upgraded Roblox from Neutral to Overweight and raised the price target from $41 to $48.
Carpenter noted the company has generated over 20% bookings growth in each of the past four quarters and said the company could report first-quarter bookings of $927 million, representing 20% year-on-year growth.
Also, Benchmark reiterated its Buy rating on Roblox and maintained a $50 price target, and Stifel maintained its Buy rating and $53 price target.
Roblox is set to report its first-quarter financial results on May 9 before the bell. According to estimates from Benzinga Pro, analysts expect the company to report a loss of 53 cents per share and quarterly revenue of $922.967 million.
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Predicting the future of stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.
If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer-term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.
For Roblox, over the past five years, it's annualized stock performance is -12.84%, and if you assume that trend continues for another five years, you can expect a stock to trade at $18.49.
Using a trend line (see how to perform this function here), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price — be it an outside influence or managerial decision-making.
RBLX Price Action: According to Benzinga Pro, Roblox shares were up 5.83% at $36.30 at market close Tuesday.
Photo: Courtesy of Roblox Corp.
Posted In: RBLX
