Roblox (NYSE:RBLX) Price Target Raised to $58.00 at Wells Fargo & Company

Roblox (NYSE:RBLX) had its price objective lifted by Wells Fargo & Company from $54.00 to $58.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on RBLX. Barclays lifted their target price on shares of Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday. BTIG Research lifted their price objective on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group increased their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Raymond James boosted their price target on Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, Citigroup increased their price objective on Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating, thirteen 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 has an average rating of “Moderate Buy” and a consensus target price of $52.55.

Roblox Price Performance

Shares of NYSE:RBLX opened at $51.44 on Friday. Roblox has a 12 month low of $29.55 and a 12 month high of $52.65. The firm has a market capitalization of $30.79 billion, a P/E ratio of -31.37 and a beta of 1.56. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average price is $43.67 and its 200 day moving average price is $39.38.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. As a group, sell-side analysts predict that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, insider Mark Reinstra sold 12,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the sale, the insider now directly owns 342,656 shares in the company, valued at approximately $13,706,240. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the transaction, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the sale, the insider now directly owns 342,656 shares in the company, valued at approximately $13,706,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 979,341 shares of company stock valued at $43,897,012 in the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of institutional investors have recently made changes to their positions in RBLX. DekaBank Deutsche Girozentrale increased its position in Roblox by 2.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after purchasing an additional 1,419 shares in the last quarter. Dragoneer Investment Group LLC grew its holdings in shares of Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Roblox by 62.0% in the second quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after buying an additional 14,348 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Roblox by 18.3% during the first quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock valued at $11,000,000 after buying an additional 44,557 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Roblox by 319.6% during the first quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock worth $1,075,000 after acquiring an additional 21,533 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.