According to Zacks, “Roblox Corporation develops and operates an online entertainment platform. It offers Roblox Client, an application that allows users to explore 3D digital worlds; and Roblox Studio, a toolset which allows developers and creators to build, publish and operate 3D experiences and other content. The company also provides Roblox Cloud, a solution which provides services and infrastructure to power the human co-experience platform. Roblox Corporation is based in San Mateo, California. “
Several other research firms also recently weighed in on RBLX. Stifel Nicolaus dropped their target price on shares of Roblox from $65.00 to $53.00 in a research report on Tuesday, May 3rd. Daiwa Capital Markets dropped their price objective on shares of Roblox from $56.00 to $38.00 in a research note on Tuesday. BTIG Research dropped their price target on shares of Roblox from $99.00 to $84.00 in a research note on Friday, March 11th. Wedbush began coverage on shares of Roblox in a report on Monday, May 9th. They set a “neutral” rating and a $28.00 price objective for the company. Finally, Truist Financial decreased their price objective on shares of Roblox from $70.00 to $36.00 in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Roblox presently has an average rating of “Buy” and an average target price of $58.94.
Roblox (NYSE:RBLX – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). The firm had revenue of $631.21 million during the quarter, compared to analysts’ expectations of $649.48 million. Roblox had a negative return on equity of 89.70% and a negative net margin of 25.01%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts anticipate that Roblox will post -1 EPS for the current year.
In other news, insider Craig Donato sold 5,000 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Guthrie sold 2,998 shares of Roblox stock in a transaction dated Tuesday, February 22nd. The stock was 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. Insiders have sold a total of 15,930 shares of company stock valued at $797,939 in the last three months. Insiders own 28.22% of the company’s stock.
Several large investors have recently added to or reduced their stakes in RBLX. Morgan Stanley boosted its stake in shares of Roblox by 269.0% during 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 period. Center for Financial Planning Inc. raised 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 worth $496,000 after purchasing an additional 2,950 shares in the last quarter. Rafferty Asset Management LLC bought a new position in Roblox in the third quarter worth $214,000. Citigroup Inc. raised its holdings in Roblox by 698.2% in the third quarter. Citigroup Inc. now owns 363,438 shares of the company’s stock worth $27,456,000 after purchasing an additional 317,906 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Roblox by 70.9% in the third quarter. Allianz Asset Management GmbH now owns 13,085 shares of the company’s stock worth $989,000 after purchasing an additional 5,427 shares in the last quarter. 68.00% of the stock is owned by hedge funds and other institutional investors.
About Roblox (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.
- Get a free copy of the StockNews.com research report on Roblox (RBLX)
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