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

Roblox (NYSE:RBLX) had its price objective cut by investment analysts at Needham & Company LLC from $55.00 to $40.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 31.49% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of Roblox from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $48.00 in a report on Tuesday, April 23rd. BMO Capital Markets upped their price target on shares of Roblox from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. The Goldman Sachs Group upgraded shares of Roblox from a “sell” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $48.00 in a research note on Thursday, February 8th. Barclays upgraded Roblox from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $26.00 to $46.00 in a research report on Thursday, February 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $53.00 price target on shares of Roblox in a research report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average target price of $45.86.

Roblox Trading Down 22.1 %

NYSE:RBLX opened at $30.42 on Friday. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of -16.27 and a beta of 1.63. Roblox has a one year low of $24.88 and a one year high of $47.20. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50-day simple moving average is $38.00 and its 200 day simple moving average is $39.45.

Roblox (NYSE:RBLX) last issued its earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. Roblox’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.48) earnings per share. As a group, sell-side analysts predict that Roblox will post -2.09 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In related news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total transaction of $456,040.00. Following the transaction, the director now owns 9,747,603 shares in the company, valued at approximately $341,945,913.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Roblox news, CEO David Baszucki sold 200,000 shares of Roblox stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the completion of the sale, the chief executive officer now owns 1 shares of the company’s stock, valued at approximately $44.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Baszucki sold 13,000 shares of the company’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 completion of the sale, the director now owns 9,747,603 shares of the company’s stock, valued at approximately $341,945,913.24. The disclosure for this sale can be found here. Insiders have sold 512,374 shares of company stock valued at $20,809,338 in the last three months. 22.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Roblox by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 46,264,280 shares of the company’s stock worth $2,115,203,000 after buying an additional 1,671,272 shares in the last quarter. Morgan Stanley grew its stake in shares of Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after acquiring an additional 4,927,848 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Roblox by 3.1% in the first quarter. Baillie Gifford & Co. now owns 28,607,151 shares of the company’s stock worth $1,092,221,000 after purchasing an additional 867,805 shares in the last quarter. Ieq Capital LLC boosted its holdings in Roblox by 27.6% during the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after purchasing an additional 2,684,713 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Roblox by 9.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,493,091 shares of the company’s stock valued at $324,266,000 after purchasing an additional 764,481 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Roblox Company Profile

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.