Shares of Roblox Corporation (RBLX) tumbled 5.01% in intraday trading on Wednesday, despite conflicting signals from analysts. The stock's decline comes primarily in response to a downgrade from Raymond James, even as multiple firms raised their price targets for the popular gaming platform.

Raymond James lowered its rating on Roblox from Strong Buy to Outperform, citing a "high bar" for the company's upcoming second-quarter results. However, in a seemingly contradictory move, the firm simultaneously raised its price target for RBLX from $81 to $130. This mixed message appears to have unsettled investors, triggering a sell-off despite the higher price target.

Adding to the complexity of the situation, Citigroup raised its price target for Roblox from $123 to $152, indicating a more optimistic outlook. Despite these bullish price targets, the market seems to have focused on the Raymond James downgrade, leading to today's significant stock price decline. The conflicting analyst views have resulted in mixed options sentiment for Roblox, with trading volume roughly in line with the average.