Roblox (NYSE:RBLX) Price Target Raised to $54.00 at Wells Fargo & Company

Roblox (NYSE:RBLX) had its target price increased by equities researchers at Wells Fargo & Company from $46.00 to $54.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 30.15% from the stock’s current price.

A number of other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Roth Mkm raised their target price on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $56.00 price target on shares of Roblox in a research report on Tuesday, July 30th. Wolfe Research initiated coverage on shares of Roblox in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Benchmark lifted their target price on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.14.

Roblox Stock Performance

RBLX stock traded up $0.98 on Wednesday, hitting $41.49. The company had a trading volume of 5,456,340 shares, compared to its average volume of 7,317,680. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of -22.31 and a beta of 1.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock’s 50-day simple moving average is $42.61 and its 200 day simple moving average is $38.76. Roblox has a 12-month low of $29.55 and a 12-month high of $48.43.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. During the same quarter last year, the firm posted ($0.46) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. As a group, equities research analysts expect that Roblox will post -1.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Roblox news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $47.75, for a total value of $620,750.00. Following the completion of the sale, the director now owns 9,662,103 shares of the company’s stock, valued at $461,365,418.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 4,933 shares of the company’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 value of $199,046.55. Following the transaction, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 762,341 shares of company stock valued at $32,788,526 in the last three months. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several hedge funds have recently bought and sold shares of the business. PARK CIRCLE Co bought a new position in Roblox in the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC bought a new position in Roblox in the second quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC increased its holdings in 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 purchasing an additional 506 shares during the period. Washington Trust Advisors Inc. bought a new stake in Roblox during the 1st quarter valued at $39,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after buying an additional 530 shares during the period. Institutional investors 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.