Jefferies Financial Group Lowers Roblox (NYSE:RBLX) Price Target to $86.00

Roblox (NYSE:RBLX) had its price target trimmed by Jefferies Financial Group from $92.00 to $86.00 in a report published on Monday, Analyst Price Targets reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts also recently commented on RBLX. Zacks Investment Research downgraded Roblox from a buy rating to a hold rating in a report on Tuesday, August 3rd. Citigroup initiated coverage on Roblox in a report on Wednesday, June 30th. They issued an overweight rating on the stock. Truist Securities increased their price objective on Roblox from $83.00 to $103.00 and gave the stock a buy rating in a report on Tuesday, June 1st. started coverage on Roblox in a report on Wednesday, June 30th. They set an overweight rating on the stock. Finally, Benchmark lowered their price target on Roblox from $75.00 to $70.00 and set a sell rating on the stock in a report on Tuesday, August 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Roblox has a consensus rating of Buy and a consensus target price of $84.40.

Shares of RBLX opened at $77.77 on Monday. Roblox has a fifty-two week low of $60.50 and a fifty-two week high of $103.87. The firm has a 50-day simple moving average of $81.96.

Roblox (NYSE:RBLX) last issued its earnings results on Sunday, August 15th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.49). The firm had revenue of $454.10 million during the quarter, compared to the consensus estimate of $689.21 million. The business’s quarterly revenue was up 126.6% on a year-over-year basis. Sell-side analysts forecast that Roblox will post -0.91 earnings per share for the current fiscal year.

In related news, insider Brett Tolley sold 1,048 shares of the company’s stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $89.50, for a total value of $93,796.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Altos Ventures Management Inc. sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $82.16, for a total transaction of $2,054,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 626,102 shares of company stock worth $52,225,232.

A number of institutional investors have recently modified their holdings of RBLX. Meritech Capital Associates V L.L.C. bought a new stake in shares of Roblox during the first quarter valued at approximately $2,969,168,000. Morgan Stanley grew its stake in shares of Roblox by 269.0% during the second quarter. Morgan Stanley now owns 18,737,506 shares of the company’s stock valued at $1,686,002,000 after purchasing an additional 13,659,143 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Roblox by 1.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 14,600,650 shares of the company’s stock valued at $1,313,766,000 after purchasing an additional 270,832 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Roblox by 29.5% during the second quarter. Vanguard Group Inc. now owns 10,149,576 shares of the company’s stock valued at $913,259,000 after purchasing an additional 2,311,597 shares during the last quarter. Finally, Discovery Value Fund grew its stake in shares of Roblox by 397.0% during the second quarter. Discovery Value Fund now owns 7,543,193 shares of the company’s stock valued at $678,737,000 after purchasing an additional 6,025,418 shares during the last quarter. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

About Roblox

Roblox Corporation develops and operates an online entertainment platform. It offers Roblox Client, an application that allows users to explore 3D digital worlds; and Roblox Studio, a toolset that allows developers and creators to build, publish, and operate 3D experiences and other content. The company also provides Roblox Cloud, a solution that provides services and infrastructure to power the human co-experience platform.

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Analyst Recommendations for Roblox (NYSE:RBLX)

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