Roblox (NYSE:RBLX) PT Raised to $43.00 at Wells Fargo & Company

Roblox (NYSE:RBLX) had its target price hoisted by stock analysts at Wells Fargo & Company from $41.00 to $43.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.16% from the stock’s current price.

A number of other research analysts have also recently commented on RBLX. The Goldman Sachs Group cut their price target on shares of Roblox from $48.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. BTIG Research decreased their price target on Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Roth Capital cut Roblox from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Roth Mkm reissued a “neutral” rating and set a $35.00 price objective (down from $55.00) on shares of Roblox in a report on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.23.

Roblox Stock Performance

RBLX opened at $39.39 on Monday. The stock’s 50 day simple moving average is $35.37 and its 200-day simple moving average is $38.41. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04. The stock has a market cap of $23.29 billion, a PE ratio of -21.18 and a beta of 1.59. Roblox has a 1 year low of $24.88 and a 1 year high of $47.20.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. The firm had revenue of $923.76 million for the quarter, compared to analyst estimates of $918.85 million. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.44) EPS. Sell-side analysts forecast that Roblox will post -1.67 EPS for the current year.

Insider Activity

In other news, Director Andrea L. Wong sold 5,276 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $31.13, for a total value of $164,241.88. Following the transaction, the director now directly owns 26,319 shares in the company, valued at approximately $819,310.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, CAO Amy Marie Rawlings sold 3,910 shares of Roblox stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $127,309.60. Following the sale, the chief accounting officer now owns 98,457 shares of the company’s stock, valued at approximately $3,205,759.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea L. Wong sold 5,276 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $31.13, for a total value of $164,241.88. Following the transaction, the director now owns 26,319 shares of the company’s stock, valued at $819,310.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 314,221 shares of company stock valued at $10,951,185. 22.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roblox

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Roblox by 29.0% in the third 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 in the last quarter. Franklin Resources Inc. boosted its stake in shares of Roblox by 195.1% during the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after buying an additional 5,162,833 shares during the last quarter. Norges Bank bought a new position in shares of Roblox in the 4th quarter valued at about $216,194,000. Ieq Capital LLC increased its position in shares of Roblox by 27.6% in the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after acquiring an additional 2,684,713 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Roblox by 836.1% during the fourth quarter. First Trust Advisors LP now owns 2,739,514 shares of the company’s stock worth $125,251,000 after acquiring an additional 2,446,867 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Roblox Company Profile

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.