Wells Fargo & Company Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its price target increased by investment analysts at Wells Fargo & Company from $58.00 to $76.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 16.96% from the stock’s current price.

Several other brokerages have also issued reports on RBLX. Benchmark boosted their target price on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and set a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. CICC Research began coverage on Roblox in a research note on Tuesday. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. boosted their target price 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. Finally, Morgan Stanley raised their price target on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.48.

Roblox Price Performance

RBLX stock traded up $1.24 during trading on Thursday, hitting $64.98. 1,317,924 shares of the company’s stock traded hands, compared to its average volume of 5,935,259. Roblox has a 52 week low of $29.55 and a 52 week high of $65.01. The stock has a market capitalization of $39.48 billion, a price-to-earnings ratio of -39.62 and a beta of 1.43. The business has a fifty day simple moving average of $56.39 and a 200 day simple moving average of $47.12. 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 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 ($0.39) by $0.02. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.45) earnings per share. As a group, research analysts expect that Roblox will post -1.56 EPS for the current fiscal year.

Insider Activity at Roblox

In related news, CFO Michael Guthrie sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $49.44, for a total value of $494,400.00. Following the completion of the transaction, the chief financial officer now owns 352,844 shares in the company, valued at $17,444,607.36. This trade represents a 2.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 166,668 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $42.15, for a total value of $7,025,056.20. Following the completion of the transaction, the chief executive officer now directly owns 135,755 shares in the company, valued at $5,722,073.25. This represents a 55.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,254,601 shares of company stock valued at $65,622,735 in the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

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

About Roblox

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.