Roblox (NYSE:RBLX) Stock Price Target Raised at Wedbush

Key Points

• Wedbush raised Roblox’s price target from $48 to $55 while maintaining a “neutral” rating, implying roughly 2.07% upside from the reported share price.
• Analyst sentiment remains mixed: Roblox has a consensus “Hold” rating and an average price target of $57.22, with ratings spanning Strong Buy to Sell.
• Roblox reported a quarterly loss of $0.26 per share, better than estimates, while revenue of $1.47 billion fell short of expectations but increased 8.3% year over year.

Roblox (NYSE:RBLX - Get Free Report) had its target price raised by analysts at Wedbush from $48.00 to $55.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Wedbush's price objective points to a potential upside of 2.07% from the company's current price.

RBLX has been the subject of a number of other reports. BMO Capital Markets downgraded Roblox from an "outperform" rating to a "market perform" rating and set a $45.00 price target for the company. in a research note on Friday, July 31st. Arete Research set a $95.00 price objective on Roblox and gave the stock a "buy" rating in a research note on Monday, June 29th. Piper Sandler reissued a "neutral" rating and issued a $47.00 price objective (down from $50.00) on shares of Roblox in a report on Friday, July 31st. Moffett Nathanson restated a "neutral" rating and set a $40.00 target price on shares of Roblox in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Roblox in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $57.22.

Roblox Stock Up 2.5%

Shares of RBLX stock opened at $53.88 on Friday. The firm's fifty day moving average price is $44.82 and its two-hundred day moving average price is $47.54. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. Roblox has a 1 year low of $33.88 and a 1 year high of $134.67. The firm has a market capitalization of $36.10 billion, a P/E ratio of -37.68 and a beta of 1.47.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.08. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.41) EPS. On average, equities analysts predict that Roblox will post -1.39 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In related news, Director Gregory Baszucki sold 16,666 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $40.47, for a total value of $674,473.02. Following the sale, the director owned 1,261,169 shares in the company, valued at approximately $51,039,509.43. This represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 17,934 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $680,774.64. Following the completion of the sale, the insider owned 398,064 shares in the company, valued at approximately $15,110,509.44. This trade represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 186,390 shares of company stock worth $7,283,371 in the last three months. 10.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Roblox

Several large investors have recently modified their holdings of the stock. Atala Financial Inc lifted its stake in shares of Roblox by 2.3% during the 3rd quarter. Atala Financial Inc now owns 59,985 shares of the company's stock worth $2,542,000 after buying an additional 1,330 shares during the last quarter. MBL Wealth LLC acquired a new position in Roblox in the 3rd quarter valued at about $490,000. Root Financial Partners LLC acquired a new position in Roblox in the 3rd quarter valued at about $62,000. Crossmark Global Holdings Inc. grew its stake in Roblox by 5.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,205 shares of the company's stock valued at $263,000 after buying an additional 311 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in Roblox by 247.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 17,196 shares of the company's stock valued at $729,000 after acquiring an additional 12,250 shares during the period. 94.46% of the stock is owned by institutional investors.

Roblox Company Profile

Roblox Corporation operates Roblox, an online platform where users can create, publish, and participate in interactive digital experiences. The platform supports a broad range of user-generated content, including games, social spaces, entertainment, educational activities, and virtual events.

Roblox provides development tools through Roblox Studio, enabling creators and developers to design experiences and build virtual items and environments. Users can customize avatars, communicate with others, and access content across computers, mobile devices, consoles, and other supported platforms.

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