Roblox (NYSE:RBLX) Stock Gets Price Target Reduction from DA Davidson

Roblox (NYSE:RBLX) had its target price decreased by DA Davidson from $50.00 to $48.00 in a report issued on Monday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group downgraded shares of Roblox from a “hold” rating to an “underperform” rating and set a $38.00 price target on the stock. in a report on Monday, September 28th. Deutsche Bank Aktiengesellschaft cut shares of Roblox from a “buy” rating to a “hold” rating and reduced their price objective for the company from $56.00 to $38.00 in a research note on Friday, July 31st. Wolfe Research raised shares of Roblox from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Piper Sandler reiterated a “neutral” rating and issued a $47.00 target price (down from $50.00) on shares of Roblox in a research note on Friday, July 31st. Finally, Raymond James Financial reiterated a “buy” rating on shares of Roblox in a research note on Friday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.04.

Roblox Price Performance

Shares of NYSE RBLX opened at $49.27 on Monday. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.80. Roblox has a fifty-two week low of $33.88 and a fifty-two week high of $108.29. The stock has a market cap of $33.08 billion, a PE ratio of -35.70 and a beta of 1.45. The stock has a fifty day moving average of $46.77 and a 200-day moving average of $52.12.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 29th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. Roblox had a negative return on equity of 417.56% and a negative net margin of 16.48%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. Equities research analysts anticipate that Roblox will post -1.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Naveen K. Chopra sold 17,509 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $664,641.64. Following the completion of the transaction, the chief financial officer owned 363,249 shares of the company’s stock, valued at approximately $13,788,932.04. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Reinstra sold 17,934 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $680,774.64. Following the transaction, the insider directly owned 398,064 shares of the company’s stock, valued at $15,110,509.44. The trade was a 4.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 169,724 shares of company stock worth $6,659,063. 10.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC raised its position in Roblox by 25.5% in the 3rd quarter. Lido Advisors LLC now owns 15,390 shares of the company’s stock worth $652,000 after purchasing an additional 3,129 shares during the period. AlphaCore Capital LLC lifted its stake in Roblox by 99.9% in the third quarter. AlphaCore Capital LLC now owns 12,747 shares of the company’s stock worth $540,000 after purchasing an additional 6,370 shares during the last quarter. Fulcrum Asset Management LLP boosted its position in Roblox by 2,368.8% during the third quarter. Fulcrum Asset Management LLP now owns 69,990 shares of the company’s stock valued at $2,882,000 after buying an additional 67,155 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Roblox by 41.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 22,622 shares of the company’s stock valued at $973,000 after buying an additional 6,608 shares during the period. Finally, Brighton Jones LLC boosted its position in Roblox by 14.7% during the third quarter. Brighton Jones LLC now owns 88,860 shares of the company’s stock valued at $3,765,000 after buying an additional 11,416 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.