Roblox (NYSE:RBLX – Get Rating) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.
A number of other research firms have also recently issued reports on RBLX. Atlantic Securities cut Roblox from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Tuesday, May 24th. Stifel Nicolaus reduced their price objective on Roblox from $45.00 to $40.00 in a research report on Wednesday. Citigroup reduced their price objective on Roblox from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, June 3rd. Benchmark reduced their price objective on Roblox from $45.00 to $21.00 in a research report on Wednesday. Finally, Needham & Company LLC reduced their price objective on Roblox from $60.00 to $40.00 in a research report on Thursday, May 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.88.
NYSE:RBLX opened at $24.69 on Friday. Roblox has a 1 year low of $21.65 and a 1 year high of $141.60. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.74. The stock has a market cap of $13.38 billion, a price-to-earnings ratio of -27.43 and a beta of 2.29. The stock has a 50-day moving average price of $32.50 and a two-hundred day moving average price of $58.08.
Roblox (NYSE:RBLX – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). Roblox had a negative net margin of 25.01% and a negative return on equity of 89.70%. The business had revenue of $631.21 million during the quarter, compared to analyst estimates of $649.48 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts forecast that Roblox will post -1.06 earnings per share for the current year.
In other news, CFO Michael Guthrie sold 7,882 shares of Roblox stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $30.34, for a total value of $239,139.88. Following the transaction, the chief financial officer now owns 208,343 shares in the company, valued at approximately $6,321,126.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Manuel Bronstein sold 32,695 shares of Roblox stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $30.34, for a total value of $991,966.30. Following the completion of the transaction, the insider now owns 839,977 shares in the company, valued at approximately $25,484,902.18. The disclosure for this sale can be found here. Company insiders own 28.22% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of RBLX. Morgan Stanley increased its stake in shares of Roblox by 269.0% in the 2nd quarter. Morgan Stanley now owns 18,737,506 shares of the company’s stock valued at $1,686,002,000 after purchasing an additional 13,659,143 shares during the last quarter. Center for Financial Planning Inc. grew its position in Roblox by 81.7% during the 3rd quarter. Center for Financial Planning Inc. now owns 6,559 shares of the company’s stock worth $496,000 after acquiring an additional 2,950 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Roblox during the 3rd quarter worth $86,000. Guggenheim Capital LLC bought a new stake in Roblox during the 3rd quarter worth $1,543,000. Finally, Ancora Advisors LLC grew its position in Roblox by 235.3% during the 3rd quarter. Ancora Advisors LLC now owns 684 shares of the company’s stock worth $52,000 after acquiring an additional 480 shares during the last quarter. Institutional investors own 68.00% of the company’s stock.
About Roblox (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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Source: defenseworld.net
