Barclays Has Lowered Expectations for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its price objective reduced by equities research analysts at Barclays from $50.00 to $46.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential downside of 30.73% from the company’s current price.

A number of other equities research analysts have also issued reports on RBLX. Piper Sandler reiterated an “overweight” rating and issued a $72.00 target price (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Morgan Stanley raised their price objective on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wedbush restated an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. Finally, Moffett Nathanson lowered Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price objective for the company. in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.57.

Roblox Stock Down 1.1 %

Shares of RBLX stock traded down $0.71 during trading hours on Friday, reaching $66.41. The company had a trading volume of 23,953,768 shares, compared to its average volume of 9,656,356. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox has a twelve month low of $29.55 and a twelve month high of $75.74. The company has a market capitalization of $40.34 billion, a P/E ratio of -40.49 and a beta of 1.46. The stock’s fifty day simple moving average is $62.14 and its 200 day simple moving average is $50.44.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. As a group, sell-side analysts expect that Roblox will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 138,555 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the completion of the transaction, the chief executive officer now owns 129,301 shares in the company, valued at approximately $9,260,537.62. The trade was a 51.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Guthrie sold 40,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $52.07, for a total value of $2,082,800.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at approximately $18,372,587.08. This trade represents a 10.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,306,335 shares of company stock worth $77,348,316. 22.15% of the stock is owned by company insiders.

Institutional Trading of Roblox

Several institutional investors have recently modified their holdings of the company. Prosperity Wealth Management Inc. acquired a new stake in shares of Roblox in the fourth quarter valued at $371,000. Wealthfront Advisers LLC lifted its holdings in shares of Roblox by 74,400.8% in the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after buying an additional 17,312,325 shares during the period. Independent Advisor Alliance lifted its holdings in shares of Roblox by 23.6% in the fourth quarter. Independent Advisor Alliance now owns 11,178 shares of the company’s stock valued at $647,000 after buying an additional 2,132 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Roblox by 10.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 61,192 shares of the company’s stock valued at $3,541,000 after buying an additional 5,953 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Roblox by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,665 shares of the company’s stock valued at $5,940,000 after buying an additional 2,178 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It 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 experience; and Roblox Cloud, which provides services and infrastructure that power the platform.