Roblox (NYSE:RBLX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Roblox (NYSE:RBLX) had its target price hoisted by equities researchers at Wells Fargo & Company from $54.00 to $58.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 12.75% from the company’s previous close.

Several other brokerages also recently commented on RBLX. Wolfe Research assumed coverage on shares of Roblox in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Macquarie upped their price target on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Roblox in a research report on Friday. Raymond James upped their price target on shares of Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, Benchmark increased their target price on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average price target of $52.55.

Roblox Price Performance

RBLX stock traded down $0.28 on Friday, hitting $51.44. 12,917,505 shares of the company’s stock traded hands, compared to its average volume of 7,407,876. Roblox has a 1-year low of $29.55 and a 1-year high of $52.65. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of -29.91 and a beta of 1.60. The stock has a fifty day moving average of $43.53 and a 200-day moving average of $39.23. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.01. The business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.45) EPS. On average, analysts forecast that Roblox will post -1.58 EPS for the current fiscal year.

Insider Activity at Roblox

In related news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.75, for a total value of $620,750.00. Following the transaction, the director now directly owns 9,662,103 shares in the company, valued at approximately $461,365,418.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Roblox news, CEO David Baszucki sold 166,668 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $42.15, for a total value of $7,025,056.20. Following the completion of the sale, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at $5,722,073.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.75, for a total transaction of $620,750.00. Following the completion of the sale, the director now directly owns 9,662,103 shares of the company’s stock, valued at approximately $461,365,418.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 779,341 shares of company stock worth $33,831,012. 22.15% of the stock is owned by insiders.

Institutional Trading of Roblox

Hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in Roblox in the 3rd quarter valued at $27,000. PARK CIRCLE Co bought a new position in shares of Roblox during the 2nd quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in shares of Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after acquiring an additional 530 shares during the period. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. bought a new position in shares of Roblox during the 1st quarter worth about $39,000. 91.08% of the stock is owned by institutional investors.

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.