Stifel Nicolaus Cuts Roblox (NYSE:RBLX) Price Target to $53.00

Roblox (NYSE:RBLXGet Rating) had its target price dropped by equities research analysts at Stifel Nicolaus from $65.00 to $53.00 in a report released on Tuesday, The Fly reports. Stifel Nicolaus’ target price would suggest a potential upside of 62.18% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Citigroup began coverage on Roblox in a research report on Thursday, April 7th. They set a “buy” rating and a $59.00 target price on the stock. Bank of America began coverage on Roblox in a research report on Monday, February 14th. They set a “buy” rating and a $84.00 target price on the stock. BTIG Research reduced their target price on Roblox from $99.00 to $84.00 in a research report on Friday, March 11th. Zacks Investment Research upgraded Roblox from a “sell” rating to a “hold” rating in a research report on Wednesday, April 20th. Finally, Daiwa Capital Markets began coverage on Roblox in a research report on Monday, March 28th. They set an “outperform” rating and a $56.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $68.82.

Shares of NYSE:RBLX opened at $32.68 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 1.67. Roblox has a 52-week low of $29.52 and a 52-week high of $141.60. The stock’s fifty day simple moving average is $43.38 and its 200-day simple moving average is $73.42. The company has a market capitalization of $17.67 billion, a P/E ratio of -29.98 and a beta of 2.29.

Roblox (NYSE:RBLXGet Rating) last issued its quarterly earnings data on Tuesday, February 15th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.14). Roblox had a negative net margin of 25.62% and a negative return on equity of 84.32%. The company had revenue of $770.12 million during the quarter, compared to analysts’ expectations of $763.11 million. On average, sell-side analysts anticipate that Roblox will post -0.92 earnings per share for the current year.

In other news, insider Craig Donato sold 5,000 shares of the stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Guthrie sold 2,998 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $46.87, for a total value of $140,516.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,930 shares of company stock valued at $797,939. Insiders own 28.22% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of RBLX. Morgan Stanley boosted its holdings in Roblox by 269.0% in 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. Center for Financial Planning Inc. boosted its holdings in Roblox by 81.7% in the third quarter. Center for Financial Planning Inc. now owns 6,559 shares of the company’s stock valued at $496,000 after purchasing an additional 2,950 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Roblox by 181.0% in the third quarter. Victory Capital Management Inc. now owns 88,322 shares of the company’s stock valued at $6,673,000 after purchasing an additional 56,896 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Roblox in the third quarter valued at about $26,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Roblox by 1.5% in the third quarter. PNC Financial Services Group Inc. now owns 15,912 shares of the company’s stock valued at $1,202,000 after purchasing an additional 238 shares during the last quarter. 68.00% of the stock is owned by hedge funds and other institutional investors.

Roblox Company Profile (Get Rating)

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.

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