Roblox (NYSE:RBLX) Price Target Raised to $165.00

Roblox (NYSE:RBLX) had its target price upped by Wedbush from $142.00 to $165.00 in a research report released on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on RBLX. Citigroup raised their price objective on Roblox from $123.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of Roblox from $78.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. Roth Mkm boosted their price target on shares of Roblox from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Raymond James Financial lowered shares of Roblox from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $130.00 in a research note on Wednesday, July 23rd. Finally, BTIG Research set a $131.00 target price on Roblox and gave the company a “buy” rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $117.59.

Roblox Trading Down 9.2%

RBLX opened at $125.16 on Friday. Roblox has a fifty-two week low of $35.30 and a fifty-two week high of $150.59. The firm has a market capitalization of $80.73 billion, a PE ratio of -87.52 and a beta of 1.63. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $105.05 and its 200 day moving average is $78.76.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the company earned ($0.32) earnings per share. The business’s revenue for the quarter was up 50.5% compared to the same quarter last year. As a group, research analysts predict that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the transaction, the director directly owned 284,488 shares in the company, valued at $29,555,458.32. This trade represents a 18.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Baszucki sold 139,507 shares of the business’s stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the completion of the sale, the chief executive officer owned 211,559 shares of the company’s stock, valued at approximately $22,253,891.21. The trade was a 39.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,251,703 shares of company stock valued at $492,380,210 over the last three months. 12.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew 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 valued at $2,294,642,000 after buying an additional 18,715,837 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Roblox by 217.4% in 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 during the period. Vanguard Group Inc. grew 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. Durable Capital Partners LP purchased a new position in shares of Roblox during the fourth quarter valued at approximately $246,560,000. Finally, Ninety One UK Ltd purchased a new position in shares of Roblox during the first quarter valued at approximately $137,379,000. Hedge funds and other institutional investors 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.