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

Key Points

• Wells Fargo & Company raised its target price for Roblox stock from $116.00 to $153.00, indicating a potential upside of 18.44% from its current price.
• Roblox shares have experienced a decline of 6.3%, trading at $129.18, with an average trading volume of 4.3 million shares compared to 8.7 million.
• Institutional investors own 94.46% of Roblox's stock, highlighting significant interest from large financial entities.

Roblox (NYSE:RBLX - Get Free Report) had its target price lifted by analysts at Wells Fargo & Company from $116.00 to $153.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 18.44% from the company's current price.

RBLX has been the topic of a number of other reports. Barclays upped their target price on shares of Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Friday. Wedbush upped their target price on shares of Roblox from $142.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday. Macquarie upped their target price 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. Roth Mkm upped their target price on shares of Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC upped their target price on shares of Roblox from $79.00 to $159.00 and gave the stock a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $116.91.

Roblox Stock Down 6.3%

Shares of RBLX traded down $8.61 during mid-day trading on Friday, hitting $129.18. 4,337,579 shares of the company's stock were exchanged, compared to its average volume of 8,722,353. The company has a market cap of $87.62 billion, a price-to-earnings ratio of -96.40 and a beta of 1.60. Roblox has a fifty-two week low of $35.30 and a fifty-two week high of $150.59. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. The stock's 50-day moving average is $104.20 and its 200-day moving average is $78.13.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted ($0.32) EPS. The firm's revenue for the quarter was up 50.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the transaction, the chief executive officer owned 221,983 shares in the company, valued at approximately $16,024,952.77. The trade was a 86.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 6,651,690 shares of company stock valued at $593,440,562. Insiders own 12.92% of the company's stock.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd raised its position 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 worth $32,000 after acquiring an additional 240 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Roblox during the second quarter worth $33,000. Larson Financial Group LLC raised its position in shares of Roblox by 819.0% during the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after acquiring an additional 516 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Roblox during the second quarter worth $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Roblox during the first quarter worth $39,000. 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.

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