Roblox (NYSE:RBLX) Price Target Cut to $141.00 by Analysts at BTIG Research

Roblox (NYSE:RBLX) had its price objective dropped by research analysts at BTIG Research from $174.00 to $141.00 in a research note issued on Wednesday, Marketbeat reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 95.34% from the company’s current price.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group upgraded shares of Roblox from a “neutral” rating to a “buy” rating and upped their target price for the company from $155.00 to $180.00 in a research report on Friday, October 31st. BMO Capital Markets upped their price objective on Roblox from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Raymond James Financial reissued an “outperform” rating and issued a $165.00 target price (up previously from $155.00) on shares of Roblox in a research note on Tuesday, October 14th. JPMorgan Chase & Co. lowered Roblox from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $145.00 to $100.00 in a research report on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a research report on Monday, December 29th. Seventeen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.77.

Roblox Trading Down 2.5%

Shares of RBLX opened at $72.18 on Wednesday. The stock’s fifty day simple moving average is $85.21 and its 200-day simple moving average is $110.64. The firm has a market capitalization of $47.27 billion, a PE ratio of -50.48 and a beta of 1.64. Roblox has a 12-month low of $50.10 and a 12-month high of $150.59. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.54.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.07. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.64 billion. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The company’s revenue for the quarter was up 70.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.37) EPS. As a group, research analysts predict that Roblox will post -1.49 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other news, Director Anthony P. Lee sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $82.45, for a total transaction of $577,150.00. Following the completion of the transaction, the director directly owned 256,768 shares of the company’s stock, valued at $21,170,521.60. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 2,642 shares of Roblox stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $95.24, for a total value of $251,624.08. Following the completion of the sale, the chief accounting officer directly owned 46,452 shares in the company, valued at approximately $4,424,088.48. This represents a 5.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 504,300 shares of company stock valued at $46,290,436 over the last quarter. 12.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Roblox

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd acquired a new position in Roblox during the third quarter worth $26,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Roblox during the 3rd quarter worth about $37,000. Total Investment Management Inc. acquired a new position in shares of Roblox during the 2nd quarter worth about $29,000. Root Financial Partners LLC bought a new position in shares of Roblox in the 3rd quarter valued at about $38,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after acquiring an additional 105 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.