Roblox (NYSE:RBLX) Price Target Cut to $46.00

Roblox (NYSE:RBLXFree Report) had its target price reduced by BTIG Research from $54.00 to $46.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Canaccord Genuity Group dropped their price target on Roblox from $56.00 to $48.00 and set a buy rating on the stock in a research note on Friday. Moffett Nathanson raised Roblox from a sell rating to a neutral rating and dropped their price target for the stock from $31.00 to $26.00 in a research note on Friday. Wedbush dropped their price target on Roblox from $56.00 to $46.00 and set an outperform rating on the stock in a research note on Friday. Benchmark dropped their price target on Roblox from $50.00 to $40.00 and set a buy rating on the stock in a research note on Friday. Finally, Morgan Stanley decreased their price objective on Roblox from $42.00 to $35.00 and set an equal weight rating for the company in a research report on Friday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $43.24.

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Roblox Price Performance

NYSE:RBLX traded up $1.03 during mid-day trading on Friday, reaching $31.45. 21,401,885 shares of the stock were exchanged, compared to its average volume of 9,410,230. The business has a fifty day moving average price of $37.62 and a 200 day moving average price of $39.39. The firm has a market capitalization of $19.87 billion, a PE ratio of -16.91 and a beta of 1.63. Roblox has a 1-year low of $24.88 and a 1-year high of $47.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64.

Roblox (NYSE:RBLXGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The firm had revenue of $923.76 million for the quarter, compared to analyst estimates of $918.85 million. Roblox had a negative return on equity of 980.82% and a negative net margin of 39.19%. Roblox’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.44) earnings per share. Research analysts expect that Roblox will post -2.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO David Baszucki sold 200,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the sale, the chief executive officer now owns 1 shares in the company, valued at $44.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Roblox news, CFO Michael Guthrie sold 10,972 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $445,902.08. Following the transaction, the chief financial officer now directly owns 233,629 shares of the company’s stock, valued at $9,494,682.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Baszucki sold 200,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.09, for a total value of $8,818,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares in the company, valued at approximately $44.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 512,374 shares of company stock worth $20,809,338. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its position in shares of Roblox by 7.8% during the fourth quarter. Global Retirement Partners LLC now owns 4,423 shares of the company’s stock worth $202,000 after acquiring an additional 320 shares in the last quarter. Mystic Asset Management Inc. increased its holdings in Roblox by 4.0% during the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after purchasing an additional 325 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Roblox by 9.3% in the third quarter. Signaturefd LLC now owns 4,119 shares of the company’s stock valued at $119,000 after purchasing an additional 352 shares in the last quarter. Sepio Capital LP boosted its position in shares of Roblox by 3.0% during the third quarter. Sepio Capital LP now owns 12,918 shares of the company’s stock worth $374,000 after buying an additional 382 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Roblox by 0.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,996 shares of the company’s stock valued at $4,297,000 after buying an additional 458 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

About Roblox

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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.

Further Reading

Analyst Recommendations for Roblox (NYSE:RBLX)

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