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

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

RBLX has been the topic of a number of other reports. JPMorgan Chase & Co. raised their target price on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday. Macquarie upped their target price on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday. Roth Mkm boosted their price target on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, BTIG Research boosted their target price on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average target price of $52.55.

Roblox Stock Performance

Shares of NYSE RBLX traded down $0.28 during midday trading on Friday, hitting $51.44. 12,925,147 shares of the company’s stock were exchanged, compared to its average volume of 9,062,251. The firm’s fifty day simple moving average is $43.67 and its 200-day simple moving average is $39.34. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. Roblox has a twelve month low of $29.55 and a twelve month high of $52.65.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping 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 30.90% and a negative return on equity of 1,283.93%. The company’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) EPS. On average, sell-side analysts anticipate that Roblox will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total value of $10,066,000.00. Following the sale, the director now directly owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 979,341 shares of company stock valued at $43,897,012. 22.15% of the stock is owned by corporate insiders.

Institutional Trading of Roblox

Several institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in Roblox in the 3rd quarter worth approximately $27,000. PARK CIRCLE Co acquired a new stake in Roblox in the second quarter valued at approximately $30,000. Strategic Financial Concepts LLC acquired a new position in shares of Roblox during the 2nd quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC raised its holdings in Roblox by 102.4% in 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 stake in Roblox during the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds 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.