Roblox (NYSE:RBLX) Price Target Raised to $76.00

Roblox (NYSE:RBLXFree Report) had its price target lifted by Wells Fargo & Company from $58.00 to $76.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on RBLX. Deutsche Bank Aktiengesellschaft raised their price target on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group raised their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark raised their price target on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $49.00 price target on shares of Roblox in a report on Friday, October 25th. Finally, Citigroup raised their price target on shares of Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average price target of $57.48.

View Our Latest Report on Roblox

Roblox Stock Performance

Shares of RBLX stock opened at $65.57 on Thursday. Roblox has a one year low of $29.55 and a one year high of $66.51. The company’s 50-day moving average is $57.12 and its 200 day moving average is $47.56. The company has a market capitalization of $39.84 billion, a price-to-earnings ratio of -39.98 and a beta of 1.43. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98.

Roblox (NYSE:RBLXGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.45) EPS. Sell-side analysts expect that Roblox will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Anthony P. Lee sold 250,000 shares of Roblox stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the sale, the director now owns 6,254,137 shares in the company, valued at $406,769,070.48. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Manuel Bronstein sold 44,888 shares of Roblox stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total transaction of $2,693,728.88. Following the sale, the insider now owns 573,266 shares in the company, valued at approximately $34,401,692.66. The trade was a 7.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,504,601 shares of company stock worth $81,882,735. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its position in shares of Roblox by 38.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,507 shares of the company’s stock valued at $1,476,000 after buying an additional 7,103 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Roblox by 4.6% in the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock valued at $284,000 after purchasing an additional 217 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Roblox by 0.7% in the fourth quarter. Atomi Financial Group Inc. now owns 137,642 shares of the company’s stock valued at $7,964,000 after purchasing an additional 984 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Roblox by 172.3% in the fourth quarter. Ballentine Partners LLC now owns 77,315 shares of the company’s stock valued at $4,473,000 after purchasing an additional 48,919 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new position in shares of Roblox in the fourth quarter valued at $1,026,000. Institutional investors own 94.46% of the company’s stock.

About Roblox

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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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