Roblox’s (RBLX) Outperform Rating Reiterated at Wedbush

Roblox (NYSE:RBLX)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They presently have a $83.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 24.53% from the company’s previous close.

RBLX has been the topic of several other reports. Barclays dropped their price target on shares of Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Macquarie increased their target price on shares of Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Oppenheimer raised shares of Roblox from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Thursday, April 10th. Benchmark reaffirmed a “buy” rating and set a $71.00 price objective on shares of Roblox in a report on Tuesday, March 18th. Finally, CICC Research initiated coverage on Roblox in a report on Tuesday, January 14th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Roblox has an average rating of “Moderate Buy” and a consensus target price of $64.50.

Roblox Stock Up 1.5 %

RBLX stock opened at $66.65 on Thursday. The company’s 50 day moving average price is $59.06 and its 200 day moving average price is $57.43. The firm has a market capitalization of $41.89 billion, a price-to-earnings ratio of -45.97 and a beta of 1.49. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, equities research analysts anticipate that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 138,555 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the completion of the transaction, the chief executive officer now owns 129,301 shares of the company’s stock, valued at approximately $9,260,537.62. This trade represents a 51.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Arvind Chakravarthy sold 982 shares of Roblox stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $61.26, for a total value of $60,157.32. Following the sale, the insider now owns 204,261 shares of the company’s stock, valued at approximately $12,513,028.86. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 902,954 shares of company stock worth $55,354,971 over the last 90 days. Company insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

A number of hedge funds have recently bought and sold shares of RBLX. Northwest Wealth Management LLC purchased a new position in Roblox during the first quarter worth about $241,000. Amalgamated Bank boosted its holdings in shares of Roblox by 5.5% in the 1st quarter. Amalgamated Bank now owns 37,201 shares of the company’s stock valued at $2,168,000 after purchasing an additional 1,930 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in shares of Roblox during the 1st quarter valued at $213,000. KBC Group NV increased its holdings in shares of Roblox by 60.4% during the 1st quarter. KBC Group NV now owns 119,218 shares of the company’s stock worth $6,950,000 after buying an additional 44,886 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Roblox by 10.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,118,943 shares of the company’s stock worth $68,244,000 after buying an additional 106,074 shares during the period. Institutional investors and hedge funds 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.