MKM Partners Trims Roblox (NYSE:RBLX) Target Price to $28.00

Roblox (NYSE:RBLXGet Rating) had its price target reduced by analysts at MKM Partners from $30.00 to $28.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “neutral” rating on the stock. MKM Partners’ target price indicates a potential downside of 3.11% from the company’s current price.

A number of other research firms have also weighed in on RBLX. Benchmark dropped their target price on Roblox from $45.00 to $21.00 in a report on Wednesday. Stifel Nicolaus dropped their target price on Roblox from $45.00 to $40.00 in a report on Wednesday. Daiwa Capital Markets dropped their target price on Roblox from $56.00 to $38.00 in a report on Tuesday, May 17th. Jefferies Financial Group raised their target price on Roblox from $24.00 to $30.00 in a report on Thursday, June 9th. Finally, Citigroup decreased their price target on Roblox from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, June 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.88.

Shares of NYSE:RBLX opened at $28.90 on Thursday. The business’s 50 day simple moving average is $32.90 and its two-hundred day simple moving average is $58.81. The firm has a market cap of $15.66 billion, a P/E ratio of -32.11 and a beta of 2.29. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.73 and a current ratio of 1.73. Roblox has a 52-week low of $21.65 and a 52-week high of $141.60.

Roblox (NYSE:RBLXGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). Roblox had a negative net margin of 25.01% and a negative return on equity of 89.70%. The company had revenue of $631.21 million during the quarter, compared to the consensus estimate of $649.48 million. During the same quarter in the prior year, the business earned ($0.46) EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Roblox will post -1.06 earnings per share for the current fiscal year.

In other news, insider Manuel Bronstein sold 32,695 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $30.34, for a total value of $991,966.30. Following the completion of the transaction, the insider now directly owns 839,977 shares of the company’s stock, valued at $25,484,902.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Guthrie sold 7,882 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $30.34, for a total value of $239,139.88. Following the completion of the transaction, the chief financial officer now directly owns 208,343 shares of the company’s stock, valued at $6,321,126.62. The disclosure for this sale can be found here. Insiders sold 45,577 shares of company stock valued at $1,481,106 over the last three months. Company insiders own 28.22% of the company’s stock.

Several institutional investors have recently bought and sold shares of RBLX. Highlander Capital Management LLC bought a new stake in Roblox during the first quarter valued at $25,000. Baystate Wealth Management LLC boosted its stake in Roblox by 175.0% during the fourth quarter. Baystate Wealth Management LLC now owns 275 shares of the company’s stock valued at $28,000 after buying an additional 175 shares during the period. City State Bank bought a new stake in Roblox during the fourth quarter valued at $31,000. 1832 Asset Management L.P. bought a new stake in Roblox during the first quarter valued at $32,000. Finally, North Star Investment Management Corp. bought a new stake in Roblox during the fourth quarter valued at $33,000. 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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