Roblox (NYSE:RBLX) Price Target Increased to $53.00 by Analysts at Citigroup

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

Several other equities research analysts have also recently issued reports on RBLX. Needham & Company LLC lifted their price objective on shares of Roblox from $40.00 to $50.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price objective on Roblox from $41.00 to $43.00 and gave the company an overweight rating in a report on Monday, July 8th. BMO Capital Markets reissued an outperform rating and set a $56.00 target price on shares of Roblox in a research report on Tuesday, July 30th. Barclays upped their price target on Roblox from $35.00 to $40.00 and gave the company an equal weight rating in a report on Friday, August 2nd. Finally, BTIG Research raised their price objective on shares of Roblox from $47.00 to $51.00 and gave the stock a buy rating in a report on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $44.81.

Roblox Price Performance

Shares of NYSE RBLX opened at $44.18 on Wednesday. The stock’s 50-day moving average is $42.36 and its two-hundred day moving average is $38.57. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $26.44 billion, a price-to-earnings ratio of -23.75 and a beta of 1.60. Roblox has a 1-year low of $27.11 and a 1-year high of $48.43.

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

Insider Buying and Selling

In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly 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 Roblox stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Arvind Chakravarthy sold 592 shares of the 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 $11,994,961.44. The disclosure for this sale can be found here. Insiders sold a total of 792,341 shares of company stock valued at $33,923,126 over the last three months. 22.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roblox

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB boosted its stake in shares of Roblox by 0.5% during 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 increased its position in shares of Roblox by 4.3% in the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after buying an additional 300 shares in the last quarter. Mystic Asset Management Inc. raised its stake in shares of Roblox by 4.0% during the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after buying an additional 325 shares during the last quarter. Center for Financial Planning Inc. boosted 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 buying an additional 400 shares in the last quarter. Finally, AlTi Global Inc. grew its stake in Roblox by 8.1% in the 2nd quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock valued at $220,000 after acquiring an additional 445 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.