Roblox (NYSE:RBLX) Stock Gets Price Target Trim from Jefferies Financial Group

Roblox (NYSE:RBLX) had its price objective lowered by Jefferies Financial Group from $38.00 to $35.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

RBLX has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut Roblox from a “buy” rating to a “hold” rating and decreased their target price for the stock from $56.00 to $38.00 in a research note on Friday, July 31st. Roth Capital reissued a “buy” rating and issued a $84.00 price target (up from $78.00) on shares of Roblox in a research note on Monday, October 26th. Bank of America increased their price target on Roblox from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. JPMorgan Chase & Co. cut their price target on Roblox from $53.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Finally, UBS Group reduced their price objective on shares of Roblox from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Roblox presently has an average rating of “Hold” and a consensus target price of $53.04.

Roblox Trading Down 3.1%

NYSE:RBLX opened at $47.80 on Tuesday. Roblox has a 52 week low of $33.88 and a 52 week high of $108.29. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.80. The firm’s fifty day moving average is $46.97 and its 200-day moving average is $51.92. The firm has a market cap of $32.09 billion, a P/E ratio of -34.64 and a beta of 1.45.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 29th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.63 billion. Roblox had a negative net margin of 16.48% and a negative return on equity of 417.56%. Roblox’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.37) earnings per share. Equities analysts expect that Roblox will post -1.36 earnings per share for the current year.

Insider Activity at Roblox

In other Roblox news, insider Mark Reinstra sold 17,934 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $680,774.64. Following the transaction, the insider owned 398,064 shares in the company, valued at approximately $15,110,509.44. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Matthew D. Kaufman sold 14,904 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $565,755.84. Following the transaction, the insider owned 335,060 shares in the company, valued at approximately $12,718,877.60. The trade was a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 169,724 shares of company stock valued at $6,659,063 over the last three months. 10.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roblox

Several large investors have recently added to or reduced their stakes in RBLX. Assenagon Asset Management S.A. grew its position in Roblox by 216.4% during the third quarter. Assenagon Asset Management S.A. now owns 5,992,101 shares of the company’s stock valued at $253,885,000 after acquiring an additional 4,098,311 shares during the last quarter. Amundi boosted its holdings in shares of Roblox by 83.7% during the first quarter. Amundi now owns 5,774,151 shares of the company’s stock worth $326,586,000 after purchasing an additional 2,631,074 shares during the period. Spyglass Capital Management LLC bought a new position in shares of Roblox during the first quarter valued at approximately $44,116,000. Allspring Global Investments Holdings LLC lifted its position in shares of Roblox by 379.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock worth $53,102,000 after purchasing an additional 729,379 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Roblox by 192.7% during the first quarter. Sei Investments Co. now owns 1,080,310 shares of the company’s stock valued at $61,102,000 after purchasing an additional 711,259 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Company Profile

Roblox Corporation operates Roblox, an online platform where users can create, publish, and participate in interactive digital experiences. The platform supports a broad range of user-generated content, including games, social spaces, entertainment, educational activities, and virtual events.

Roblox provides development tools through Roblox Studio, enabling creators and developers to design experiences and build virtual items and environments. Users can customize avatars, communicate with others, and access content across computers, mobile devices, consoles, and other supported platforms.