Wedbush Reaffirms “Outperform” Rating for Roblox (NYSE:RBLX)

Roblox (NYSE:RBLX)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a note issued to investors on Monday, Benzinga reports. They currently have a $46.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 12.47% from the stock’s current price.

RBLX has been the subject of a number of other research reports. Macquarie initiated coverage on Roblox in a research note on Friday, June 14th. They issued an “outperform” rating and a $46.00 price target for the company. Wells Fargo & Company boosted their price target on Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. raised Roblox from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $48.00 in a research note on Tuesday, April 23rd. Barclays dropped their price target on Roblox from $46.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Finally, Moffett Nathanson upgraded Roblox from a “sell” rating to a “neutral” rating and decreased their target price for the company from $31.00 to $26.00 in a research report on Friday, May 10th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.59.

Roblox Stock Up 1.0 %

RBLX opened at $40.90 on Monday. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $24.18 billion, a P/E ratio of -21.99 and a beta of 1.59. The stock has a fifty day moving average of $36.74 and a 200-day moving average of $38.07.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The business had revenue of $923.76 million during the quarter, compared to the consensus estimate of $918.85 million. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. Roblox’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. On average, equities analysts expect that Roblox will post -1.66 EPS for the current year.

Insider Transactions at Roblox

In related news, CFO Michael Guthrie sold 22,076 shares of Roblox stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $718,794.56. Following the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $12,198,050.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Amy Marie Rawlings sold 3,910 shares of Roblox stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $127,309.60. Following the transaction, the chief accounting officer now directly owns 98,457 shares of the company’s stock, valued at $3,205,759.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Guthrie sold 22,076 shares of Roblox stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $718,794.56. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at $12,198,050.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 476,889 shares of company stock worth $17,575,955. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently added to or reduced their stakes in the business. Trajan Wealth LLC lifted its stake in Roblox by 4.6% in the second quarter. Trajan Wealth LLC now owns 294,521 shares of the company’s stock valued at $10,959,000 after buying an additional 12,918 shares during the period. ARK Investment Management LLC lifted its stake in Roblox by 12.9% in the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after buying an additional 1,519,591 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Roblox by 56,711.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 626,059 shares of the company’s stock valued at $23,296,000 after buying an additional 624,957 shares during the period. Bank of New York Mellon Corp lifted its stake in Roblox by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 2,018,198 shares of the company’s stock valued at $75,097,000 after buying an additional 102,897 shares during the period. Finally, Institute for Wealth Management LLC. lifted its stake in Roblox by 74.5% in the second quarter. Institute for Wealth Management LLC. now owns 17,058 shares of the company’s stock valued at $635,000 after buying an additional 7,282 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

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.