Roblox (NYSE:RBLX) Price Target Lowered to $40.00 at Needham & Company LLC

Roblox (NYSE:RBLXFree Report) had its price objective reduced by Needham & Company LLC from $55.00 to $40.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. The Goldman Sachs Group upgraded Roblox from a sell rating to a neutral rating and upped their price objective for the company from $35.00 to $48.00 in a research report on Thursday, February 8th. Wedbush upped their target price on shares of Roblox from $53.00 to $56.00 and gave the company an outperform rating in a report on Thursday, February 8th. Stifel Nicolaus reiterated a buy rating and set a $53.00 price target on shares of Roblox in a report on Monday, April 22nd. Benchmark restated a buy rating and set a $50.00 target price on shares of Roblox in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets boosted their price target on Roblox from $55.00 to $57.00 and gave the company an outperform rating in a report on Thursday, February 8th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $42.71.

Read Our Latest Analysis on Roblox

Roblox Stock Performance

NYSE:RBLX opened at $30.97 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04. The company has a market capitalization of $18.31 billion, a P/E ratio of -16.65 and a beta of 1.63. The firm has a 50-day moving average price of $37.44 and a two-hundred day moving average price of $39.50. Roblox has a twelve month low of $24.88 and a twelve month high of $47.20.

Roblox (NYSE:RBLXGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The business had revenue of $923.76 million during the quarter, compared to analysts’ expectations of $918.85 million. During the same period last year, the company posted ($0.44) EPS. The company’s revenue was up 19.4% on a year-over-year basis. As a group, research analysts expect that Roblox will post -2.04 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, insider Mark Reinstra sold 12,531 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.75, for a total transaction of $510,638.25. Following the transaction, the insider now owns 249,779 shares of the company’s stock, valued at $10,178,494.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total value of $456,040.00. Following the transaction, the director now directly owns 9,747,603 shares in the company, valued at approximately $341,945,913.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Reinstra sold 12,531 shares of Roblox stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.75, for a total transaction of $510,638.25. Following the completion of the transaction, the insider now directly owns 249,779 shares of the company’s stock, valued at $10,178,494.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,374 shares of company stock valued at $11,991,338. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of large investors have recently bought and sold shares of RBLX. CANADA LIFE ASSURANCE Co raised its position in shares of Roblox by 29.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 228,935 shares of the company’s stock worth $8,748,000 after purchasing an additional 51,893 shares during the period. UniSuper Management Pty Ltd grew its stake in Roblox by 93.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 6,000 shares of the company’s stock worth $229,000 after buying an additional 2,900 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Roblox in the first quarter worth $2,519,000. Covestor Ltd lifted its stake in Roblox by 434.4% in the first quarter. Covestor Ltd now owns 1,726 shares of the company’s stock valued at $66,000 after buying an additional 1,403 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in Roblox by 88.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 40,173 shares of the company’s stock valued at $1,534,000 after purchasing an additional 18,890 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Roblox Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Roblox (NYSE:RBLX)

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