Roblox (NYSE:RBLX) Price Target Cut to $19.00

Roblox (NYSE:RBLXGet Rating) had its price target reduced by stock analysts at The Goldman Sachs Group from $24.00 to $19.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 46.30% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Moffett Nathanson initiated coverage on shares of Roblox in a research note on Monday, October 3rd. They issued an “underperform” rating and a $19.00 price objective on the stock. Jefferies Financial Group dropped their price target on shares of Roblox from $43.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, October 14th. DA Davidson dropped their price target on shares of Roblox from $55.00 to $50.00 in a research note on Thursday, November 10th. JPMorgan Chase & Co. lowered shares of Roblox from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $53.00 to $35.00 in a research note on Thursday, November 10th. Finally, Piper Sandler dropped their price target on shares of Roblox from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 9th. Seven equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.78.

Roblox Trading Up 5.9 %

NYSE RBLX opened at $35.38 on Thursday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market cap of $19.44 billion, a PE ratio of -25.31 and a beta of 1.53. Roblox has a one year low of $21.65 and a one year high of $74.92. The firm’s fifty day moving average is $31.04 and its two-hundred day moving average is $37.51.

Roblox (NYSE:RBLXGet Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). The business had revenue of $701.72 million during the quarter, compared to analyst estimates of $694.88 million. Roblox had a negative net margin of 35.12% and a negative return on equity of 145.60%. Analysts expect that Roblox will post -1.58 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 2,976 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $30.14, for a total value of $89,696.64. Following the sale, the chief accounting officer now owns 93,923 shares of the company’s stock, valued at $2,830,839.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Craig Donato sold 7,674 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $30.14, for a total transaction of $231,294.36. Following the transaction, the insider now owns 1,161,267 shares of the company’s stock, valued at $35,000,587.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 2,976 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $30.14, for a total transaction of $89,696.64. Following the transaction, the chief accounting officer now directly owns 93,923 shares in the company, valued at approximately $2,830,839.22. The disclosure for this sale can be found here. Insiders have sold 590,999 shares of company stock valued at $18,791,858 over the last quarter. Corporate insiders own 28.22% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently modified their holdings of the company. FinTrust Capital Advisors LLC increased its position in Roblox by 412.0% during the second quarter. FinTrust Capital Advisors LLC now owns 640 shares of the company’s stock worth $25,000 after purchasing an additional 515 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in Roblox during the fourth quarter worth approximately $28,000. 1832 Asset Management L.P. acquired a new position in Roblox during the first quarter worth approximately $32,000. Truvestments Capital LLC acquired a new position in Roblox during the second quarter worth approximately $35,000. Finally, CoreCap Advisors LLC acquired a new position in Roblox during the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

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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Analyst Recommendations for Roblox (NYSE:RBLX)

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