Wells Fargo & Company Boosts Roblox (NYSE:RBLX) Price Target to $76.00

Roblox (NYSE:RBLX - Get Free Report) had its target price hoisted by research analysts at Wells Fargo & Company from $58.00 to $76.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 16.96% from the company's previous close.

RBLX has been the topic of several other reports. Piper Sandler lifted their price target on shares of Roblox from $54.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price target 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. The Goldman Sachs Group raised their price objective on shares of Roblox from $45.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Citigroup raised their target price on Roblox from $53.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $60.00 price target on shares of Roblox in a research note on Friday, November 22nd. Seven investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.48.

Roblox Stock Performance

Shares of RBLX stock traded up $1.24 during trading on Thursday, reaching $64.98. 1,317,924 shares of the company's stock traded hands, compared to its average volume of 5,935,259. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a market capitalization of $39.48 billion, a P/E ratio of -39.62 and a beta of 1.43. Roblox has a 1 year low of $29.55 and a 1 year high of $65.01. The firm's 50-day moving average is $56.39 and its 200 day moving average is $47.12.

Roblox (NYSE:RBLX - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted ($0.45) earnings per share. Roblox's revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts expect that Roblox will post -1.56 EPS for the current year.

Insider Transactions at Roblox

In other news, insider Mark Reinstra sold 24,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the completion of the sale, the insider now directly owns 278,161 shares of the company's stock, valued at $16,620,119.75. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction on Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,254,601 shares of company stock worth $65,622,735 over the last three months. 22.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its position in shares of Roblox by 83.9% during 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 in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Roblox during the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC lifted its holdings in shares of Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company's stock worth $28,000 after buying an additional 624 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company's stock worth $41,000 after acquiring an additional 530 shares during the last quarter. Finally, Huntington National Bank increased its holdings in Roblox by 277.0% in the 3rd quarter. Huntington National Bank now owns 1,048 shares of the company's stock valued at $46,000 after acquiring an additional 770 shares during the last quarter. 94.46% of the stock is owned by institutional investors.

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.

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