Roblox (NYSE:RBLX – Get Rating) had its target price dropped by equities research analysts at Piper Sandler from $54.00 to $50.00 in a research note issued to investors on Wednesday, The Fly reports. Piper Sandler’s price objective points to a potential upside of 60.98% from the stock’s previous close.
A number of other analysts have also recently commented on RBLX. Morgan Stanley boosted their price objective on Roblox from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 18th. Needham & Company LLC reduced their price target on shares of Roblox from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, September 16th. Jefferies Financial Group lowered their price objective on Roblox from $43.00 to $40.00 and set a “hold” rating on the stock in a report on Friday, October 14th. Wedbush decreased their target price on Roblox from $36.00 to $33.00 in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Roblox from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Roblox has a consensus rating of “Hold” and an average target price of $42.95.
Roblox Price Performance
Shares of NYSE:RBLX traded down $8.08 during mid-day trading on Wednesday, reaching $31.06. The stock had a trading volume of 1,598,420 shares, compared to its average volume of 19,301,664. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.79. Roblox has a 1 year low of $21.65 and a 1 year high of $141.60. The business’s 50 day moving average price is $39.99 and its 200 day moving average price is $37.43. The company has a market cap of $16.94 billion, a P/E ratio of -32.69 and a beta of 1.87.
Roblox (NYSE:RBLX – Get Rating) last issued its earnings results on Tuesday, August 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). Roblox had a negative net margin of 25.11% and a negative return on equity of 95.60%. The company had revenue of $639.90 million for the quarter, compared to analysts’ expectations of $625.43 million. During the same period in the prior year, the firm posted ($0.25) earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Research analysts expect that Roblox will post -1.34 EPS for the current fiscal year.
Insider Buying and Selling at Roblox
In other Roblox news, insider Manuel Bronstein sold 2,452 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $50.03, for a total value of $122,673.56. Following the completion of the transaction, the insider now owns 808,040 shares of the company’s stock, valued at approximately $40,426,241.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Craig Donato sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $41.21, for a total transaction of $82,420.00. Following the completion of the transaction, the insider now directly owns 1,170,941 shares of the company’s stock, valued at $48,254,478.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Manuel Bronstein sold 2,452 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $50.03, for a total value of $122,673.56. Following the transaction, the insider now owns 808,040 shares of the company’s stock, valued at $40,426,241.20. The disclosure for this sale can be found here. Insiders have sold 711,960 shares of company stock valued at $30,460,362 in the last 90 days. 28.22% of the stock is currently owned by company insiders.
Institutional Trading of Roblox
Institutional investors and hedge funds have recently modified their holdings of the company. Highlander Capital Management LLC bought a new stake in Roblox during the 1st quarter valued at approximately $25,000. FinTrust Capital Advisors LLC increased its holdings in Roblox by 412.0% during the second quarter. FinTrust Capital Advisors LLC now owns 640 shares of the company’s stock valued at $25,000 after buying an additional 515 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Roblox during the 1st quarter worth approximately $32,000. RE Dickinson Investment Advisors LLC purchased a new position in shares of Roblox in the first quarter worth $33,000. Finally, Truvestments Capital LLC acquired a new position in Roblox in the 2nd quarter worth approximately $35,000. 69.35% of the stock is currently owned by institutional investors.
Roblox Company Profile
Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.