Roblox (NYSE:RBLX - Get Free Report) was downgraded by equities research analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a report released on Wednesday, Marketbeat reports. They presently have a $130.00 price objective on the stock, up from their previous price objective of $81.00. Raymond James Financial's price target would suggest a potential upside of 9.44% from the stock's previous close.
Other analysts also recently issued research reports about the company. Bank of America lifted their target price on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Canaccord Genuity Group raised their price objective on Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Citigroup lifted their target price on Roblox from $100.00 to $123.00 and gave the stock a "buy" rating in a report on Monday, July 7th. JPMorgan Chase & Co. lifted their price target on Roblox from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley cut their price objective on Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $95.95.
Check Out Our Latest Stock Analysis on RBLX
Roblox Stock Up 0.6%
Roblox stock traded up $0.67 during trading on Wednesday, hitting $118.79. 5,550,984 shares of the company were exchanged, compared to its average volume of 8,101,534. The business's 50 day moving average is $100.68 and its 200 day moving average is $76.37. Roblox has a 52 week low of $35.30 and a 52 week high of $127.99. The company has a market capitalization of $80.57 billion, a P/E ratio of -88.65 and a beta of 1.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39.
Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The firm's quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.43) EPS. Analysts predict that Roblox will post -1.49 earnings per share for the current year.
Insider Activity
In other news, CEO David Baszucki sold 1,375,002 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the sale, the chief executive officer owned 221,983 shares of the company's stock, valued at $16,024,952.77. This trade represents a 86.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders sold 6,651,690 shares of company stock valued at $593,440,562. Insiders own 12.92% of the company's stock.
Institutional Trading of Roblox
Institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans bought a new position in shares of Roblox in the fourth quarter worth about $229,000. Teacher Retirement System of Texas bought a new position in shares of Roblox in the fourth quarter worth about $259,000. Sei Investments Co. increased its stake in shares of Roblox by 97.5% in the fourth quarter. Sei Investments Co. now owns 256,120 shares of the company's stock worth $14,819,000 after purchasing an additional 126,413 shares during the period. Vanguard Group Inc. increased its stake in shares of Roblox by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company's stock worth $3,080,449,000 after purchasing an additional 462,450 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Roblox during the fourth quarter valued at about $503,000. Institutional investors and hedge funds own 94.46% of the company's stock.
Roblox Company Profile
(
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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.
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