Roblox (NYSE:RBLX) Given New $110.00 Price Target at Wedbush

Roblox (NYSE:RBLX) had its price target lowered by equities researchers at Wedbush from $165.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 63.37% from the stock’s previous close.

A number of other research analysts have also recently commented on RBLX. Morgan Stanley cut their price target on shares of Roblox from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Jefferies Financial Group set a $85.00 price target on Roblox in a research note on Thursday, January 15th. TD Cowen reiterated a “sell” rating on shares of Roblox in a research note on Tuesday. UBS Group set a $155.00 target price on shares of Roblox in a research note on Tuesday, January 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $150.00 target price on shares of Roblox in a research report on Friday, October 31st. Seventeen 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.65.

Roblox Stock Performance

Roblox stock traded down $8.40 during trading hours on Friday, hitting $67.33. The stock had a trading volume of 839,747 shares, compared to its average volume of 11,992,031. The company has a 50-day moving average of $84.46 and a two-hundred day moving average of $110.15. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.54. The company has a market cap of $44.09 billion, a PE ratio of -47.65 and a beta of 1.64. Roblox has a fifty-two week low of $50.10 and a fifty-two week high of $150.59.

Roblox (NYSE:RBLX) last announced its quarterly 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 firm 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 business’s revenue for the quarter was up 70.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.37) EPS. On average, equities research analysts anticipate that Roblox will post -1.49 EPS for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, CFO Naveen K. Chopra sold 19,424 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the transaction, the chief financial officer owned 337,036 shares of the company’s stock, valued at approximately $32,095,938.28. This represents a 5.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew D. Kaufman sold 20,867 shares of Roblox stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $96.10, for a total value of $2,005,318.70. Following the completion of the sale, the insider directly owned 239,775 shares of the company’s stock, valued at $23,042,377.50. This trade represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 504,300 shares of company stock worth $46,290,436 over the last ninety days. 12.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Roblox during the second quarter worth approximately $350,720,000. Vanguard Group Inc. grew its holdings in Roblox by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after acquiring an additional 3,284,073 shares during the period. Federated Hermes Inc. raised its position in shares of Roblox by 103.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock valued at $341,410,000 after acquiring an additional 1,646,871 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Roblox by 47.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock valued at $503,718,000 after purchasing an additional 1,531,380 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in shares of Roblox by 359.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock worth $191,295,000 after purchasing an additional 1,422,894 shares during the last quarter. Institutional investors own 94.46% of the company’s stock.

About Roblox

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.