Roblox’s (RBLX) Outperform Rating Reaffirmed at Wedbush

Roblox (NYSE:RBLX)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $110.00 price objective on the stock, up from their prior price objective of $91.00. Wedbush’s target price would suggest a potential upside of 9.85% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Canaccord Genuity Group lifted their price target on Roblox from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Barclays increased their price target on shares of Roblox from $46.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Piper Sandler reiterated an “overweight” rating and issued a $105.00 price objective (up previously from $85.00) on shares of Roblox in a research report on Thursday, June 5th. Oppenheimer lifted their price target on Roblox from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Finally, FBN Securities began coverage on shares of Roblox in a research note on Friday, March 28th. They issued a “sector perform” rating and a $65.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox has an average rating of “Moderate Buy” and a consensus price target of $76.09.

Roblox Stock Up 3.0%

Shares of Roblox stock traded up $2.96 on Thursday, reaching $100.13. The stock had a trading volume of 5,449,953 shares, compared to its average volume of 7,921,445. Roblox has a 1 year low of $34.41 and a 1 year high of $100.74. The company has a 50 day moving average price of $74.96 and a 200 day moving average price of $66.04. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The stock has a market capitalization of $67.92 billion, a P/E ratio of -69.14 and a beta of 1.56.

Roblox (NYSE:RBLX) last issued its quarterly earnings data 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 firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted ($0.43) EPS. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, equities research analysts forecast that Roblox will post -1.49 EPS for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, Director Anthony P. Lee sold 21,200 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $61.37, for a total value of $1,301,044.00. Following the completion of the sale, the director now owns 6,589,757 shares in the company, valued at approximately $404,413,387.09. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 229,167 shares of Roblox stock in a transaction on Monday, April 7th. The shares were sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the completion of the transaction, the chief executive officer now directly owns 221,983 shares in the company, valued at $11,649,667.84. The trade was a 50.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,253,072 shares of company stock worth $436,291,786 over the last three months. Insiders own 12.92% of the company’s stock.

Institutional Trading of Roblox

A number of hedge funds have recently added to or reduced their stakes in RBLX. FMR LLC increased its stake in shares of Roblox by 89.4% during the fourth 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 during the period. Wealthfront Advisers LLC increased its position in Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after purchasing an additional 17,312,325 shares during the period. AQR Capital Management LLC raised its stake in shares of 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 buying an additional 6,007,322 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Roblox by 1,084.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock valued at $278,500,000 after buying an additional 4,406,885 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Roblox by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company’s stock worth $3,359,854,000 after purchasing an additional 4,400,624 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

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.