Roblox (NYSE:RBLX) Rating Lowered to "Outperform" at Raymond James Financial

Roblox (NYSE:RBLX - Get Free Report) was downgraded by analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a report issued on Wednesday, Marketbeat reports. They currently have a $130.00 target price on the stock, up from their prior target price of $81.00. Raymond James Financial's price target points to a potential upside of 10.10% from the stock's current price.

Other research analysts also recently issued reports about the stock. FBN Securities assumed coverage on shares of Roblox in a research report on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Roblox from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. BMO Capital Markets increased their price target on Roblox from $95.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday. Benchmark boosted their price objective on Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Roth Mkm upped their price objective on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.50.

Roblox Stock Down 0.5%

RBLX traded down $0.56 during trading hours on Wednesday, reaching $118.07. 6,584,409 shares of the stock traded hands, compared to its average volume of 8,691,333. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. The firm's fifty day simple moving average is $99.18 and its two-hundred day simple moving average is $75.59. The company has a market cap of $80.09 billion, a price-to-earnings ratio of -88.11 and a beta of 1.60. Roblox has a fifty-two week low of $35.30 and a fifty-two week high of $127.99.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The company's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.43) earnings per share. As a group, analysts forecast that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, Director Anthony P. Lee sold 66,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total value of $6,856,740.00. Following the completion of the sale, the director directly owned 284,488 shares of the company's stock, valued at $29,555,458.32. The trade was a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 139,507 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the transaction, the chief executive officer owned 211,559 shares in the company, valued at approximately $22,253,891.21. This trade represents a 39.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,651,690 shares of company stock valued at $593,440,562 over the last three months. 12.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roblox

A number of large investors have recently added to or reduced their stakes in RBLX. Vanguard Group Inc. increased its stake in shares of Roblox by 8.3% in the first quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock worth $3,359,854,000 after purchasing an additional 4,400,624 shares during the period. FMR LLC increased its holdings in Roblox by 89.4% in the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after buying an additional 18,715,837 shares during the period. Ieq Capital LLC raised its position in Roblox by 13.8% in the first quarter. Ieq Capital LLC now owns 18,889,973 shares of the company's stock worth $1,101,097,000 after purchasing an additional 2,297,350 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Roblox by 217.4% during the first quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company's stock valued at $504,387,000 after acquiring an additional 6,007,322 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Roblox by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company's stock valued at $495,564,000 after purchasing an additional 246,610 shares during the last quarter. Institutional investors own 94.46% of the company's stock.

Roblox Company Profile

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.