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

Roblox (NYSE:RBLX - Get Free Report) had its target price dropped by investment analysts at Wells Fargo & Company from $76.00 to $70.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 22.89% from the company's current price.

A number of other equities analysts have also recently weighed in on RBLX. Citigroup upped their price objective on shares of Roblox from $63.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Wedbush reissued an "outperform" rating and issued a $83.00 price target on shares of Roblox in a report on Friday, February 7th. CICC Research began coverage on Roblox in a report on Tuesday, January 14th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Roblox from $62.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th. Finally, Moffett Nathanson lowered shares of Roblox from a "neutral" rating to a "sell" rating and set a $34.00 price target for the company. in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.22.

Remove Ads

Roblox Stock Down 0.5 %

Shares of NYSE RBLX traded down $0.30 on Wednesday, hitting $56.96. The company had a trading volume of 4,396,614 shares, compared to its average volume of 7,869,982. The firm has a market capitalization of $35.80 billion, a P/E ratio of -39.28 and a beta of 1.49. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. Roblox has a 12-month low of $29.55 and a 12-month high of $75.74. The business has a 50 day moving average of $60.20 and a two-hundred day moving average of $56.34.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, equities research analysts forecast that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mark Reinstra sold 50,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $64.98, for a total value of $3,249,000.00. Following the completion of the sale, the insider now owns 281,161 shares in the company, valued at $18,269,841.78. This represents a 15.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amy Marie Rawlings sold 5,879 shares of the business's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the transaction, the chief accounting officer now owns 75,528 shares in the company, valued at approximately $4,909,320. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,232,833 shares of company stock worth $76,827,466 over the last three months. Corporate insiders own 22.15% of the company's stock.

Institutional Investors Weigh In On Roblox

A number of hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company's stock worth $30,000 after purchasing an additional 239 shares during the period. Gordian Capital Singapore Pte Ltd grew its stake in shares of Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after purchasing an additional 240 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Roblox during the first quarter worth $39,000. Colonial Trust Co SC bought a new position in shares of Roblox in the 4th quarter valued at about $41,000. Finally, Parkside Financial Bank & Trust grew its holdings in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after acquiring an additional 230 shares during the period. 94.46% of the stock is currently 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.