Roblox (NYSE:RBLX) Price Target Lowered to $122.00 at BTIG Research

Roblox (NYSE:RBLX) had its price objective cut by stock analysts at BTIG Research from $141.00 to $122.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 111.37% from the stock’s current price.

RBLX has been the topic of several other research reports. Citigroup decreased their price target on Roblox from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. Oppenheimer lowered their target price on shares of Roblox from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price (down from $125.00) on shares of Roblox in a research report on Friday, February 6th. Morgan Stanley cut their target price on shares of Roblox from $155.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Finally, Benchmark reissued a “hold” rating on shares of Roblox in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.52.

Roblox Stock Up 2.0%

RBLX opened at $57.72 on Wednesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $38.19 billion, a PE ratio of -37.24 and a beta of 1.67. Roblox has a one year low of $50.10 and a one year high of $150.59. The stock’s fifty day moving average is $63.69 and its 200-day moving average is $90.80.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.04. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The firm’s revenue was up 122.6% compared to the same quarter last year. During the same period last year, the business posted ($0.33) earnings per share. On average, equities analysts predict that Roblox will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Arvind Chakravarthy sold 40,646 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total value of $2,732,630.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew D. Kaufman sold 30,034 shares of Roblox stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the completion of the sale, the insider owned 307,263 shares of the company’s stock, valued at $22,322,656.95. This trade represents a 8.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 636,248 shares of company stock valued at $46,013,542. Company insiders own 12.92% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently modified their holdings of the business. WPG Advisers LLC boosted its position in Roblox by 17.8% during the third quarter. WPG Advisers LLC now owns 555 shares of the company’s stock worth $77,000 after purchasing an additional 84 shares during the period. Baird Financial Group Inc. lifted its position in Roblox by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after acquiring an additional 102 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after buying an additional 105 shares during the last quarter. Lido Advisors LLC lifted its position in shares of Roblox by 1.3% during the second quarter. Lido Advisors LLC now owns 8,529 shares of the company’s stock worth $897,000 after acquiring an additional 106 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Roblox by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock valued at $560,000 after purchasing an additional 110 shares in the last quarter. 94.46% of the stock is currently 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.