Wedbush Reiterates “Outperform” Rating for Roblox (NYSE:RBLX)

Roblox (NYSE:RBLX)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They presently have a $49.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 18.50% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. Barclays increased their price objective on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. BTIG Research increased their price target on shares of Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Wells Fargo & Company upped their target price on shares of Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $56.00 price target on shares of Roblox in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and an average price target of $45.62.

Roblox Stock Up 2.1 %

RBLX traded up $0.84 during trading hours on Wednesday, hitting $41.35. 2,243,191 shares of the company’s stock were exchanged, compared to its average volume of 7,301,203. 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 has a 12-month low of $29.55 and a 12-month high of $48.43. The firm has a market cap of $24.45 billion, a P/E ratio of -22.23 and a beta of 1.60. The firm has a 50 day moving average of $42.61 and a 200 day moving average of $38.76.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The firm had revenue of $893.50 million during the quarter, compared to analyst estimates of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. Roblox’s revenue was up 31.2% compared to the same quarter last year. During the same period last year, the business posted ($0.46) earnings per share. Analysts predict that Roblox will post -1.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 99,617 shares in the company, valued at $4,019,545.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 762,341 shares of company stock worth $32,788,526. 22.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roblox

A number of institutional investors have recently made changes to their positions in the stock. PARK CIRCLE Co purchased a new position in shares of Roblox during the second quarter valued at approximately $30,000. Strategic Financial Concepts LLC purchased a new position in shares of Roblox during the 2nd quarter worth $33,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Roblox in the first quarter valued at $39,000. Finally, GAMMA Investing LLC increased its stake 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 purchasing an additional 530 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.