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

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

A number of other brokerages have also issued reports on RBLX. Barclays lifted their price target on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday. BTIG Research upped their target price on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday. Wedbush reissued an “outperform” rating and issued a $49.00 price target on shares of Roblox in a research note on Friday, October 25th. Canaccord Genuity Group boosted their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their price objective on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and a consensus price target of $54.80.

Roblox Stock Performance

NYSE RBLX opened at $50.00 on Friday. The stock has a market capitalization of $29.93 billion, a price-to-earnings ratio of -30.49 and a beta of 1.56. The stock has a 50-day moving average of $43.79 and a 200 day moving average of $39.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. Roblox has a twelve month low of $29.55 and a twelve month high of $53.07.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The company had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Sell-side analysts anticipate that Roblox will post -1.58 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, Director Anthony P. Lee sold 200,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the transaction, the director now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 374,633 shares in the company, valued at $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anthony P. Lee sold 200,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the sale, the director now owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 989,341 shares of company stock worth $44,391,412 over the last ninety days. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Roblox by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after buying an additional 4,818,022 shares during the period. Baillie Gifford & Co. lifted its stake in Roblox by 1.9% in the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after acquiring an additional 535,414 shares during the last quarter. ARK Investment Management LLC lifted its stake in Roblox by 12.9% in the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock worth $496,338,000 after acquiring an additional 1,519,591 shares during the last quarter. Ieq Capital LLC grew its holdings in Roblox by 27.6% during the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after acquiring an additional 2,684,713 shares in the last quarter. Finally, Dragoneer Investment Group LLC increased its position in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.