Wedbush Lowers Roblox (NYSE:RBLX) Price Target to $110.00

Roblox (NYSE:RBLX) had its price target decreased by analysts at Wedbush from $165.00 to $110.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 63.37% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. B. Riley began coverage on shares of Roblox in a report on Tuesday, December 9th. They set a “buy” rating and a $125.00 target price on the stock. Barclays raised their target price on shares of Roblox from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Jefferies Financial Group set a $85.00 target price on Roblox in a report on Thursday, January 15th. Wolfe Research set a $100.00 price target on Roblox in a report on Monday, January 5th. Finally, Macquarie boosted their price objective on Roblox from $158.00 to $164.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.65.

Roblox Stock Down 11.1%

Shares of NYSE:RBLX traded down $8.40 during midday trading on Friday, reaching $67.33. The company had a trading volume of 839,747 shares, compared to its average volume of 11,992,031. The stock has a market capitalization of $44.09 billion, a P/E ratio of -47.65 and a beta of 1.64. The stock’s fifty day moving average price is $84.46 and its 200-day moving average price is $110.15. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.96 and a quick ratio of 0.96. Roblox has a one year low of $50.10 and a one year high of $150.59.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.07. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.64 billion. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The company’s revenue was up 70.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.37) EPS. Equities research analysts expect that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CFO Naveen K. Chopra sold 19,424 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the completion of the transaction, the chief financial officer directly owned 337,036 shares of the company’s stock, valued at approximately $32,095,938.28. This trade represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anthony P. Lee sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total value of $577,150.00. Following the transaction, the director directly owned 256,768 shares of the company’s stock, valued at $21,170,521.60. This represents a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 504,300 shares of company stock worth $46,290,436 in the last three months. Insiders own 12.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Roblox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock valued at $5,142,065,000 after purchasing an additional 1,020,786 shares in the last quarter. State Street Corp raised its holdings in Roblox by 11.0% during the third quarter. State Street Corp now owns 13,369,844 shares of the company’s stock valued at $1,851,991,000 after buying an additional 1,326,575 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Roblox by 9.1% in the second quarter. Geode Capital Management LLC now owns 10,039,983 shares of the company’s stock worth $1,053,257,000 after buying an additional 834,230 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Roblox by 7.4% during the 3rd quarter. AQR Capital Management LLC now owns 9,697,538 shares of the company’s stock valued at $1,310,719,000 after acquiring an additional 665,127 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Roblox by 9.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,963,693 shares of the company’s stock valued at $964,611,000 after acquiring an additional 619,048 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

About Roblox

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.