Roblox (NYSE:RBLX) Price Target Raised to $142.00 at Wedbush

Key Points

• Wedbush has raised its price target for Roblox (NYSE:RBLX) from $110.00 to $142.00, indicating a potential upside of 17.55% based on the stock's previous close.
• The stock has received mixed ratings from analysts, with one sell, four hold, and nineteen buy ratings, resulting in a consensus rating of Moderate Buy.
• Roblox's recent quarterly earnings showed a loss of ($0.32) per share, beating analysts' estimates and reflecting a 30.6% year-over-year revenue increase.
• Insider trading activity includes significant sell-offs, with insiders selling over 6.6 million shares recently, while institutional ownership stands at 94.46% among hedge funds.

Roblox (NYSE:RBLX - Get Free Report) had its price objective hoisted by research analysts at Wedbush from $110.00 to $142.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's target price would suggest a potential upside of 17.55% from the company's previous close.

RBLX has been the topic of a number of other research reports. Morgan Stanley lowered their target price on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group boosted their price objective on shares of Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Raymond James Financial lowered shares of Roblox from a "strong-buy" rating to an "outperform" rating and lifted their target price for the company from $81.00 to $130.00 in a research report on Wednesday. Macquarie lifted their price target on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, BTIG Research raised their target price on shares of Roblox from $73.00 to $124.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.95.

Roblox Trading Up 2.3%

NYSE RBLX traded up $2.68 on Friday, reaching $120.80. The company had a trading volume of 368,772 shares, compared to its average volume of 8,631,726. The firm has a market cap of $81.94 billion, a price-to-earnings ratio of -90.37 and a beta of 1.60. Roblox has a fifty-two week low of $35.30 and a fifty-two week high of $127.99. The business has a 50 day moving average of $99.93 and a two-hundred day moving average of $75.98. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business posted ($0.43) earnings per share. Roblox's quarterly revenue was up 30.6% on a year-over-year basis. Analysts forecast that Roblox will post -1.49 EPS for the current year.

Insider Buying and Selling

In other Roblox news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the sale, the director owned 284,488 shares in the company, valued at approximately $29,555,458.32. This represents a 18.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Baszucki sold 27,901 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $2,934,906.19. Following the completion of the sale, the chief executive officer owned 875 shares in the company, valued at $92,041.25. This represents a 96.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,651,690 shares of company stock worth $593,440,562 in the last quarter. Company insiders own 12.92% of the company's stock.

Hedge Funds Weigh In On Roblox

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC grew its holdings in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after acquiring an additional 18,715,837 shares in the last quarter. AQR Capital Management LLC grew its holdings in Roblox by 217.4% during the 1st quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company's stock worth $504,387,000 after acquiring an additional 6,007,322 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Roblox by 1,084.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock worth $278,500,000 after acquiring an additional 4,406,885 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Roblox by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock worth $3,359,854,000 after buying an additional 4,400,624 shares during the last quarter. Finally, Durable Capital Partners LP bought a new position in shares of Roblox in the 4th quarter worth about $246,560,000. Institutional investors and hedge funds 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.

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