Barclays Lowers Roblox (NYSE:RBLX) Price Target to $47.00

Roblox (NYSE:RBLX) had its target price cut by stock analysts at Barclays from $60.00 to $47.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 29.62% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Arete Research set a $95.00 target price on Roblox and gave the stock a “buy” rating in a report on Monday, June 29th. Morgan Stanley dropped their target price on shares of Roblox from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday. Wedbush cut shares of Roblox from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $65.00 to $40.00 in a report on Friday. Benchmark lowered shares of Roblox from a “hold” rating to a “sell” rating and set a $33.00 price target on the stock. in a research report on Friday. Finally, DA Davidson set a $40.00 price objective on Roblox in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.19.

Roblox Price Performance

Shares of Roblox stock traded up $0.66 on Monday, hitting $36.26. The company had a trading volume of 6,913,257 shares, compared to its average volume of 11,640,760. Roblox has a 52 week low of $33.88 and a 52 week high of $142.00. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $24.35 billion, a PE ratio of -25.36 and a beta of 1.41. The business has a 50-day simple moving average of $49.28 and a 200-day simple moving average of $56.79.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.41) earnings per share. Research analysts expect that Roblox will post -1.4 EPS for the current fiscal year.

Roblox announced that its board has initiated a share buyback plan on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 9.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Roblox

In related news, insider Mark Reinstra sold 17,275 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $782,212.00. Following the completion of the sale, the insider directly owned 438,198 shares of the company’s stock, valued at approximately $19,841,605.44. This represents a 3.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Baszucki sold 50,628 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $2,292,435.84. Following the sale, the chief executive officer owned 852,214 shares of the company’s stock, valued at $38,588,249.92. The trade was a 5.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 161,983 shares of company stock valued at $7,580,990 in the last ninety days. Company insiders own 10.05% of the company’s stock.

Institutional Trading of Roblox

Several institutional investors have recently made changes to their positions in RBLX. Sunbelt Securities Inc. boosted its stake in shares of Roblox by 58.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after buying an additional 105 shares during the period. Horizon Investments LLC increased its stake in shares of Roblox by 2,636.4% in the third quarter. Horizon Investments LLC now owns 301 shares of the company’s stock worth $42,000 after acquiring an additional 290 shares during the last quarter. Reyes Financial Architecture Inc. raised its holdings in shares of Roblox by 164.4% during the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 194 shares in the last quarter. Fideuram Asset Management Ireland dac acquired a new stake in Roblox during the fourth quarter valued at $27,000. Finally, GW&K Investment Management LLC boosted its position in Roblox by 76.3% during the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after purchasing an additional 161 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Roblox

Here are the key news stories impacting Roblox this week:

• Neutral Sentiment: A Zacks analysis is examining Roblox’s dependence on international revenue, highlighting its importance to financial stability and future growth while leaving the ultimate stock impact dependent on execution and regional performance. International Markets and Roblox: A Deep Dive for Investors

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.