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

Roblox (NYSE:RBLX) had its target price cut by analysts at Wedbush from $56.00 to $46.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 45.62% from the company’s current price.

Several other brokerages have also commented on RBLX. BMO Capital Markets increased their price objective on Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Benchmark reiterated a “buy” rating and set a $50.00 price objective on shares of Roblox in a research report on Tuesday, April 23rd. Needham & Company LLC reduced their price objective on Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $53.00 price target on shares of Roblox in a research report on Monday, April 22nd. Finally, Roth Mkm reiterated a “buy” rating and issued a $55.00 price objective on shares of Roblox in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.81.

Roblox Price Performance

RBLX traded up $1.17 during trading on Friday, reaching $31.59. 9,034,003 shares of the company were exchanged, compared to its average volume of 8,093,513. The company’s 50-day moving average is $37.81 and its two-hundred day moving average is $39.39. The company has a market cap of $19.95 billion, a price-to-earnings ratio of -16.89 and a beta of 1.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64. Roblox has a 12-month low of $24.88 and a 12-month high of $47.20.

Roblox (NYSE:RBLX) last issued its quarterly earnings data 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 business had revenue of $923.76 million for the quarter, compared to analysts’ expectations of $918.85 million. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.44) EPS. Research analysts forecast that Roblox will post -2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the sale, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at $3,906,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David Baszucki sold 200,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $44.09, for a total value of $8,818,000.00. Following the transaction, the chief executive officer now owns 1 shares of the company’s stock, valued at $44.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the transaction, the chief accounting officer now directly owns 96,125 shares in the company, valued at approximately $3,906,520. The disclosure for this sale can be found here. Insiders sold 512,374 shares of company stock valued at $20,809,338 over the last 90 days. Company insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ieq Capital LLC grew its position in shares of Roblox by 27.6% during the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after acquiring an additional 2,684,713 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Roblox by 15.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 219,456 shares of the company’s stock valued at $8,379,000 after buying an additional 28,580 shares in the last quarter. Entropy Technologies LP lifted its stake in Roblox by 23.5% in the 1st quarter. Entropy Technologies LP now owns 24,363 shares of the company’s stock worth $930,000 after purchasing an additional 4,630 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in Roblox by 10.8% in the 1st quarter. Motley Fool Asset Management LLC now owns 18,636 shares of the company’s stock worth $712,000 after purchasing an additional 1,812 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Roblox by 7.4% in the 1st quarter. US Bancorp DE now owns 70,129 shares of the company’s stock worth $2,678,000 after purchasing an additional 4,840 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

About Roblox

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.