Roblox (NYSE:RBLX) Price Target Raised to $30.00

Roblox (NYSE:RBLXGet Rating) had its price target raised by Jefferies Financial Group from $24.00 to $30.00 in a research note issued to investors on Thursday, The Fly reports. Jefferies Financial Group’s price target would suggest a potential downside of 8.62% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Needham & Company LLC dropped their price target on shares of Roblox from $60.00 to $40.00 in a research note on Thursday, May 12th. Bank of America began coverage on shares of Roblox in a research note on Monday, February 14th. They set a “buy” rating and a $84.00 price target on the stock. Truist Financial dropped their price target on shares of Roblox from $70.00 to $36.00 in a research note on Tuesday, May 10th. Daiwa Capital Markets dropped their price target on shares of Roblox from $56.00 to $38.00 in a research note on Tuesday, May 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Roblox from $60.00 to $45.00 in a research note on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.47.

NYSE:RBLX opened at $32.83 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.74. Roblox has a 12 month low of $21.65 and a 12 month high of $141.60. The company has a market cap of $17.79 billion, a PE ratio of -36.48 and a beta of 2.29. The company has a 50 day simple moving average of $34.85 and a two-hundred day simple moving average of $62.05.

Roblox (NYSE:RBLXGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05). The business had revenue of $631.21 million for 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 company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.46) EPS. Research analysts forecast that Roblox will post -1.08 earnings per share for the current year.

In other news, insider Craig Donato sold 5,000 shares of the business’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 7,882 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $30.34, for a total transaction of $239,139.88. Following the completion of the sale, the chief financial officer now owns 208,343 shares in the company, valued at $6,321,126.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,577 shares of company stock worth $1,481,106. Corporate insiders own 28.22% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Highlander Capital Management LLC bought a new position in Roblox during the 1st quarter valued at about $25,000. Baystate Wealth Management LLC grew its holdings in Roblox by 175.0% during the 4th quarter. Baystate Wealth Management LLC now owns 275 shares of the company’s stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. City State Bank bought a new position in Roblox during the 4th quarter valued at about $31,000. 1832 Asset Management L.P. bought a new position in Roblox during the 1st quarter valued at about $32,000. Finally, North Star Investment Management Corp. bought a new position in Roblox during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 68.00% of the company’s stock.

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.

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