Wedbush Sticks to Their Buy Rating for Roblox (RBLX)

In a report released today, Michael Pachter from Wedbush maintained a Buy rating on Roblox, with a price target of $110.00.

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According to TipRanks, Pachter is an analyst with an average return of -3.0% and a 43.89% success rate. Pachter covers the Communication Services sector, focusing on stocks such as Roblox, fuboTV, and AppLovin.

In addition to Wedbush, Roblox also received a Buy from Citi’s Jason Bazinet in a report issued on February 9. However, on February 12, TipRanks – OpenAI reiterated a Hold rating on Roblox (NYSE: RBLX).

Based on Roblox’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.42 billion and a GAAP net loss of $316 million. In comparison, last year the company earned a revenue of $988.18 million and had a GAAP net loss of $219.57 million

Based on the recent corporate insider activity of 188 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RBLX in relation to earlier this year. Earlier this month, Mark Reinstra, the Chief Legal Off. & Corp. Sec of RBLX sold 60,000.00 shares for a total of $3,836,400.00.