Roblox (NYSE:RBLX) Price Target Lowered to $122.00 at BTIG Research

Roblox (NYSE:RBLX) had its target price lowered by BTIG Research from $141.00 to $122.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

RBLX has been the subject of several other research reports. Barclays cut their price objective on Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 6th. Jefferies Financial Group set a $85.00 price target on shares of Roblox in a research note on Thursday, January 15th. B. Riley Financial started coverage on shares of Roblox in a report on Tuesday, December 9th. They issued a “buy” rating and a $125.00 price target for the company. Freedom Capital upgraded shares of Roblox from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.52.

Roblox Price Performance

Shares of RBLX opened at $57.72 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. The stock’s 50 day moving average is $63.69 and its two-hundred day moving average is $90.80. Roblox has a twelve month low of $50.10 and a twelve month high of $150.59. The firm has a market capitalization of $38.19 billion, a PE ratio of -37.24 and a beta of 1.67.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business posted ($0.33) EPS. The company’s revenue for the quarter was up 122.6% on a year-over-year basis. Research analysts anticipate that Roblox will post -1.49 earnings per share for the current year.

Insider Activity at Roblox

In other news, insider Mark Reinstra sold 60,000 shares of Roblox stock in a transaction on Friday, February 13th. The stock was sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the completion of the transaction, the insider owned 394,322 shares of the company’s stock, valued at $25,212,948.68. The trade was a 13.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Arvind Chakravarthy sold 40,646 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. The SEC filing for this sale provides additional information. Insiders sold 636,248 shares of company stock valued at $46,013,542 in the last 90 days. 12.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Several hedge funds have recently added to or reduced their stakes in RBLX. Reyes Financial Architecture Inc. grew its position in shares of Roblox by 164.4% in the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 194 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Roblox during the 3rd quarter worth approximately $26,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Roblox during the 4th quarter worth approximately $27,000. Total Investment Management Inc. purchased a new stake in Roblox in the 2nd quarter valued at approximately $29,000. Finally, GW&K Investment Management LLC lifted its stake in Roblox by 76.3% in the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.