Champion himself admits that Roblox's news was not good -- which is why he cut his price target from $56 previously to $40 today.

Piper Sandler analyst Thomas Champion lowered his price target on Roblox but still thinks the stock will return to $40 a share within a year.

No one anticipates Roblox doing this, which means the stock is no buy at today's share price of $30 and change. It also means Roblox stock isn't worth the $40 a share that Champion predicts for it.

Could Roblox really be shutting down? Here’s what parents need to know Don't go shutting down their account just yet.

Key Points Roblox's first-quarter revenue was up 22% year over year. Around 56% of time spent on Roblox was from users older than 13. Roblox is beginning to roll out its advertising business.