Roblox (NYSE:RBLX) Stock Price Expected to Rise, Wedbush Analyst Says

Roblox (NYSE:RBLX - Get Free Report) had its price objective hoisted by equities research analysts at Wedbush from $91.00 to $110.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's target price would suggest a potential upside of 15.84% from the company's previous close.

RBLX has been the subject of a number of other research reports. Bank of America increased their target price on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Needham & Company LLC reaffirmed a "buy" rating on shares of Roblox in a research note on Friday, May 2nd. BMO Capital Markets reaffirmed an "outperform" rating and set a $95.00 price objective (up previously from $82.00) on shares of Roblox in a report on Friday, May 30th. Barclays lifted their target price on shares of Roblox from $46.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Macquarie increased their price target on Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.09.

Roblox Price Performance

NYSE RBLX traded down $1.21 during trading on Thursday, reaching $94.96. 8,669,756 shares of the company traded hands, compared to its average volume of 7,910,507. Roblox has a 1-year low of $34.41 and a 1-year high of $98.11. The company has a market cap of $64.41 billion, a price-to-earnings ratio of -65.49 and a beta of 1.56. The stock's 50 day moving average price is $73.18 and its two-hundred day moving average price is $65.16. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned ($0.43) EPS. Roblox's quarterly revenue was up 30.6% on a year-over-year basis. As a group, analysts anticipate that Roblox will post -1.49 EPS for the current year.

Insider Transactions at Roblox

In related news, CAO Amy Marie Rawlings sold 6,391 shares of Roblox stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $80.66, for a total transaction of $515,498.06. Following the transaction, the chief accounting officer now owns 73,931 shares of the company's stock, valued at $5,963,274.46. This trade represents a 7.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Baszucki sold 34,099 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $57.05, for a total value of $1,945,347.95. Following the completion of the transaction, the chief executive officer now directly owns 221,983 shares of the company's stock, valued at approximately $12,664,130.15. The trade was a 13.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,227,124 shares of company stock worth $432,474,423 in the last quarter. 12.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd grew its stake in Roblox by 74.8% in 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 in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after buying an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Roblox in the first quarter valued at $39,000. Colonial Trust Co SC acquired a new position in Roblox during the fourth quarter worth $41,000. Finally, Parkside Financial Bank & Trust raised its position in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 94.46% of the company's stock.

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.