Roblox (NYSE:RBLX) PT Lowered to $40.00 at Benchmark

Roblox (NYSE:RBLX - Get Free Report) had its price target reduced by stock analysts at Benchmark from $50.00 to $40.00 in a report released on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's price target would suggest a potential upside of 27.23% from the company's current price.

Other equities analysts have also issued reports about the company. Morgan Stanley reduced their price objective on Roblox from $42.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday. Barclays raised shares of Roblox from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $26.00 to $46.00 in a report on Thursday, February 8th. The Goldman Sachs Group raised shares of Roblox from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $35.00 to $48.00 in a research note on Thursday, February 8th. 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 note on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Roblox from $55.00 to $40.00 and set a "buy" rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.24.

Roblox Price Performance

Shares of Roblox stock traded up $1.02 on Friday, reaching $31.44. The stock had a trading volume of 21,383,864 shares, compared to its average volume of 8,247,953. The business's 50 day moving average is $37.81 and its two-hundred day moving average is $39.39. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. The company has a market cap of $19.86 billion, a P/E ratio of -16.80 and a beta of 1.63. Roblox has a 1 year low of $24.88 and a 1 year high of $47.20.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. The company had revenue of $923.76 million during the quarter, compared to analyst estimates 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 last year, the company earned ($0.44) earnings per share. As a group, research analysts anticipate that Roblox will post -2.09 EPS for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 200,000 shares of Roblox stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares of the company's stock, valued at $44.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Roblox news, insider Mark Reinstra sold 12,531 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.75, for a total transaction of $510,638.25. Following the transaction, the insider now owns 249,779 shares of the company's stock, valued at approximately $10,178,494.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Baszucki sold 200,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the sale, the chief executive officer now directly owns 1 shares of the company's stock, valued at $44.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 512,374 shares of company stock worth $20,809,338. Insiders own 22.15% of the company's stock.

Institutional Investors Weigh In On Roblox

Several institutional investors have recently bought and sold shares of RBLX. Vanguard Group Inc. increased its holdings in shares of Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company's stock valued at $1,950,322,000 after purchasing an additional 4,818,022 shares during the period. Morgan Stanley grew its holdings in shares of Roblox by 13.7% during the third quarter. Morgan Stanley now owns 41,014,115 shares of the company's stock worth $1,187,769,000 after buying an additional 4,927,848 shares in the last quarter. Baillie Gifford & Co. lifted its position in Roblox by 3.1% during the first quarter. Baillie Gifford & Co. now owns 28,607,151 shares of the company's stock worth $1,092,221,000 after buying an additional 867,805 shares in the last quarter. Ieq Capital LLC raised its stake in Roblox by 27.6% during the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company's stock worth $473,811,000 after purchasing an additional 2,684,713 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Roblox by 9.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,493,091 shares of the company's stock valued at $324,266,000 after purchasing an additional 764,481 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.