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

Roblox (NYSE:RBLX) had its price objective boosted by investment analysts at Citigroup from $46.00 to $53.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 18.15% from the stock’s current price.

RBLX has been the topic of several other reports. Needham & Company LLC boosted their target price on Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wolfe Research initiated coverage on Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wedbush reissued an “outperform” rating and issued a $46.00 price objective on shares of Roblox in a report on Monday, July 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $56.00 target price on shares of Roblox in a research note on Tuesday, July 30th. Eight equities 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.81.

Roblox Stock Down 5.8 %

Shares of RBLX opened at $44.86 on Wednesday. The stock has a 50 day moving average price of $42.29 and a 200 day moving average price of $38.55. Roblox has a one year low of $26.78 and a one year high of $48.43. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $26.85 billion, a price-to-earnings ratio of -24.12 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.46) earnings per share. Equities research analysts forecast that Roblox will post -1.59 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the transaction, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anthony P. Lee sold 27,532 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $43.52, for a total transaction of $1,198,192.64. Following the completion of the sale, the director now directly owns 165,190 shares in the company, valued at approximately $7,189,068.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 792,341 shares of company stock valued at $33,923,126. 22.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Several large investors have recently bought and sold shares of RBLX. Dimensional Fund Advisors LP raised its holdings in Roblox by 15.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 442,836 shares of the company’s stock worth $20,250,000 after purchasing an additional 59,327 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Roblox by 85.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,235 shares of the company’s stock valued at $605,000 after acquiring an additional 6,082 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Roblox by 22.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,697 shares of the company’s stock valued at $626,000 after acquiring an additional 2,487 shares in the last quarter. US Bancorp DE boosted its stake in Roblox by 34.8% in the fourth quarter. US Bancorp DE now owns 65,289 shares of the company’s stock valued at $2,985,000 after acquiring an additional 16,869 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Roblox by 6.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 107,800 shares of the company’s stock worth $4,929,000 after purchasing an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 91.08% 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.