Roblox (NYSE:RBLX) Given New $76.00 Price Target at Wells Fargo & Company

Roblox (NYSE:RBLX) had its target price hoisted by Wells Fargo & Company from $58.00 to $76.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a report on Friday, November 22nd. Wedbush reaffirmed an “outperform” rating and set a $49.00 target price on shares of Roblox in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Citigroup upped their price objective on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average price target of $57.48.

Roblox Stock Performance

Roblox stock opened at $65.45 on Thursday. Roblox has a 12 month low of $29.55 and a 12 month high of $66.51. The stock’s 50 day simple moving average is $56.61 and its two-hundred day simple moving average is $47.23. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $919.00 million for 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 986.36%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.45) earnings per share. On average, equities analysts expect that Roblox will post -1.56 earnings per share for the current year.

Insider Activity

In other Roblox news, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the transaction, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 10,000 shares of Roblox stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $49.44, for a total transaction of $494,400.00. Following the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at approximately $17,444,607.36. This represents a 2.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,254,601 shares of company stock valued at $65,622,735 in the last 90 days. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of hedge funds have recently made changes to their positions in RBLX. V Square Quantitative Management LLC acquired a new position in Roblox during the third quarter worth $27,000. Frazier Financial Advisors LLC lifted its stake in Roblox by 20,800.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after acquiring an additional 624 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares during the period. GAMMA Investing LLC grew its position in Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after acquiring an additional 530 shares in the last quarter. Finally, Huntington National Bank increased its stake in Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after purchasing an additional 770 shares during the period. Hedge funds and other institutional investors own 94.46% 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.