Roblox (NYSE:RBLX) Given New $54.00 Price Target at Wells Fargo & Company

Roblox (NYSE:RBLX) had its price target raised by Wells Fargo & Company from $46.00 to $54.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets restated an outperform rating and issued a $56.00 target price on shares of Roblox in a research note on Tuesday, July 30th. Macquarie increased their target price on shares of Roblox from $46.00 to $50.00 and gave the stock an outperform rating in a report on Monday, August 5th. Citigroup lifted their price target on shares of Roblox from $46.00 to $53.00 and gave the company a buy rating in a research note on Wednesday, September 25th. Benchmark increased their price objective on shares of Roblox from $40.00 to $44.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Finally, Wolfe Research assumed coverage on Roblox in a research report on Tuesday, July 16th. They issued a peer perform rating on the stock. Eight 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 stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $46.14.

Roblox Price Performance

Shares of RBLX stock opened at $41.60 on Wednesday. Roblox has a 12-month low of $29.55 and a 12-month high of $48.43. The firm has a market capitalization of $24.90 billion, a price-to-earnings ratio of -24.19 and a beta of 1.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The firm has a fifty day moving average of $42.72 and a 200-day moving average of $38.85.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share 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 firm had revenue of $893.50 million during the quarter, compared to analyst estimates of $897.88 million. During the same period in the prior year, the business earned ($0.46) EPS. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that Roblox will post -1.59 earnings per share for the current year.

Insider Transactions at Roblox

In other news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at approximately $14,643,026. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Roblox news, insider Mark Reinstra sold 12,000 shares of Roblox stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the sale, the insider now owns 342,656 shares in the company, valued at $13,706,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $14,643,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 625,673 shares of company stock worth $27,331,806. 22.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Roblox

Several hedge funds have recently bought and sold shares of the company. Creative Planning raised its position in shares of Roblox by 6.2% in the 3rd quarter. Creative Planning now owns 138,247 shares of the company’s stock valued at $6,119,000 after buying an additional 8,097 shares in the last quarter. Stonekeep Investments LLC raised its position in shares of Roblox by 8.2% in the 3rd quarter. Stonekeep Investments LLC now owns 7,592 shares of the company’s stock valued at $336,000 after buying an additional 574 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Roblox by 640.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,700 shares of the company’s stock valued at $164,000 after buying an additional 3,200 shares in the last quarter. LifePro Asset Management acquired a new position in shares of Roblox in the 3rd quarter valued at approximately $1,716,000. Finally, Perpetual Ltd acquired a new position in Roblox during the 3rd quarter worth approximately $1,273,000. 91.08% of the stock is owned by 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.