Wells Fargo & Company Raises Roblox (NYSE:RBLX) Price Target to $43.00

Roblox (NYSE:RBLX) had its price objective lifted by Wells Fargo & Company from $41.00 to $43.00 in a research report sent to investors on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Barclays lowered their target price on shares of Roblox from $46.00 to $35.00 and set an equal weight rating for the company in a research note on Friday, May 10th. Roth Capital downgraded shares of Roblox from a strong-buy rating to a hold rating in a research note on Tuesday, May 14th. Needham & Company LLC lowered their target price on shares of Roblox from $55.00 to $40.00 and set a buy rating for the company in a research note on Friday, May 10th. Canaccord Genuity Group lowered their target price on shares of Roblox from $56.00 to $48.00 and set a buy rating for the company in a research note on Friday, May 10th. Finally, Roth Mkm reiterated a neutral rating and set a $35.00 price objective (down from $55.00) on shares of Roblox in a research note on Tuesday, May 14th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox presently has a consensus rating of Moderate Buy and an average price target of $42.59.

Roblox Stock Performance

Shares of NYSE:RBLX opened at $38.53 on Monday. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50 day simple moving average is $35.45 and its 200-day simple moving average is $38.42. Roblox has a one year low of $24.88 and a one year high of $47.20. The firm has a market cap of $22.78 billion, a PE ratio of -20.71 and a beta of 1.59.

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

Insider Transactions at Roblox

In related news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $37.82, for a total transaction of $1,134,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at $14,168,620.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $37.82, for a total transaction of $1,134,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at $14,168,620.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory Baszucki sold 13,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $36.67, for a total transaction of $476,710.00. Following the completion of the transaction, the director now owns 9,721,603 shares in the company, valued at $356,491,182.01. The disclosure for this sale can be found here. Insiders sold 314,221 shares of company stock valued at $10,951,185 over the last 90 days. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC increased its stake in Roblox by 7.8% during the 4th quarter. Global Retirement Partners LLC now owns 4,423 shares of the company’s stock worth $202,000 after buying an additional 320 shares during the period. Mystic Asset Management Inc. increased its stake in Roblox by 4.0% during the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after buying an additional 325 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Roblox by 0.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,996 shares of the company’s stock worth $4,297,000 after buying an additional 458 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock worth $42,000 after buying an additional 548 shares during the period. Finally, Lindbrook Capital LLC increased its stake in Roblox by 35.0% during the 1st quarter. Lindbrook Capital LLC now owns 2,210 shares of the company’s stock worth $84,000 after buying an additional 573 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.