Roblox (NYSE:RBLX) Stock Price Expected to Rise, Wedbush Analyst Says

Roblox (NYSE:RBLX) had its price objective boosted by investment analysts at Wedbush from $48.00 to $55.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush‘s target price points to a potential upside of 2.07% from the company’s current price.

RBLX has been the topic of a number of other research reports. Moffett Nathanson restated a “neutral” rating and set a $40.00 price objective on shares of Roblox in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research note on Monday, September 21st. Seaport Research Partners downgraded shares of Roblox to a “neutral” rating in a research note on Monday, June 29th. Canaccord Genuity Group set a $58.00 target price on shares of Roblox in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Roblox from $40.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $57.22.

Roblox Trading Up 2.5%

Shares of Roblox stock opened at $53.88 on Friday. The firm has a 50-day moving average of $44.82 and a 200-day moving average of $47.54. The stock has a market cap of $36.10 billion, a PE ratio of -37.68 and a beta of 1.47. Roblox has a 52-week low of $33.88 and a 52-week high of $134.67. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the firm earned ($0.41) earnings per share. Roblox’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Roblox will post -1.39 EPS for the current year.

Insider Transactions at Roblox

In related news, insider Mark Reinstra sold 17,934 shares of Roblox stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $680,774.64. Following the sale, the insider directly owned 398,064 shares of the company’s stock, valued at approximately $15,110,509.44. The trade was a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $40.47, for a total transaction of $674,473.02. Following the transaction, the director owned 1,261,169 shares of the company’s stock, valued at approximately $51,039,509.43. This represents a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 186,390 shares of company stock valued at $7,283,371. 10.05% of the stock is owned by company insiders.

Institutional Trading of Roblox

Hedge funds and other institutional investors have recently modified their holdings of the stock. Basecamp Wealth Advisors LLC lifted its stake in shares of Roblox by 98.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after acquiring an additional 252 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of Roblox by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock valued at $32,000 after acquiring an additional 283 shares in the last quarter. Activest Wealth Management grew its position in Roblox by 72.9% during the 3rd quarter. Activest Wealth Management now owns 588 shares of the company’s stock worth $25,000 after acquiring an additional 248 shares during the last quarter. Western Wealth Management LLC bought a new stake in Roblox during the 1st quarter worth $33,000. Finally, Atlantic Private Wealth LLC bought a new stake in Roblox during the 1st quarter worth $35,000. Institutional investors own 94.46% of the company’s stock.

About Roblox

Roblox Corporation operates Roblox, an online platform where users can create, publish, and participate in interactive digital experiences. The platform supports a broad range of user-generated content, including games, social spaces, entertainment, educational activities, and virtual events.

Roblox provides development tools through Roblox Studio, enabling creators and developers to design experiences and build virtual items and environments. Users can customize avatars, communicate with others, and access content across computers, mobile devices, consoles, and other supported platforms.