Citigroup Raises Roblox (NYSE:RBLX) Price Target to $53.00

Roblox (NYSE:RBLX) had its price target increased by Citigroup from $46.00 to $53.00 in a research report report published on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Needham & Company LLC raised their price objective on Roblox from $40.00 to $50.00 and gave the stock a buy rating in a research note on Friday, August 2nd. BTIG Research raised their price objective on Roblox from $47.00 to $51.00 and gave the stock a buy rating in a research note on Monday, September 9th. Wedbush restated an outperform rating and set a $46.00 price objective on shares of Roblox in a research note on Monday, July 29th. Jefferies Financial Group assumed coverage on Roblox in a research note on Thursday, July 11th. They issued a hold rating and a $42.00 price target on the stock. Finally, Roth Mkm lifted their price target on Roblox from $35.00 to $42.00 and gave the company a neutral rating in a research note on Monday, July 29th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $44.81.

Roblox Price Performance

Shares of NYSE RBLX opened at $44.18 on Wednesday. The firm has a market cap of $26.44 billion, a P/E ratio of -23.75 and a beta of 1.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. Roblox has a 1-year low of $27.11 and a 1-year high of $48.43. The business’s 50 day moving average is $42.36 and its 200-day moving average is $38.55.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. During the same quarter last year, the company earned ($0.46) EPS. The company’s revenue was up 31.2% on a year-over-year basis. Equities research analysts predict that Roblox will post -1.59 earnings per share for the current year.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 166,668 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the sale, the chief executive officer now owns 142,260 shares of the company’s stock, valued at approximately $5,720,274.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Roblox news, insider Arvind Chakravarthy sold 592 shares of Roblox stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the transaction, the insider now directly owns 276,892 shares of the company’s stock, valued at approximately $11,994,961.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $40.21, for a total value of $6,701,720.28. Following the transaction, the chief executive officer now directly owns 142,260 shares in the company, valued at $5,720,274.60. The disclosure for this sale can be found here. Insiders have sold a total of 792,341 shares of company stock valued at $33,923,126 in the last 90 days. 22.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RBLX. Swedbank AB raised its position in shares of Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after acquiring an additional 285 shares in the last quarter. Thrive Wealth Management LLC raised its position in shares of Roblox by 4.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after acquiring an additional 300 shares in the last quarter. Mystic Asset Management Inc. raised its position in shares of Roblox by 4.0% in the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after acquiring an additional 325 shares in the last quarter. Center for Financial Planning Inc. raised its position in shares of Roblox by 2.3% in the 2nd quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock worth $659,000 after acquiring an additional 400 shares in the last quarter. Finally, AlTi Global Inc. raised its position in shares of Roblox by 8.1% in the 2nd quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock worth $220,000 after acquiring an additional 445 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

About Roblox

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.