Roblox (NYSE:RBLX) Given New $90.00 Price Target at Citigroup

Roblox (NYSE:RBLX) had its price objective dropped by stock analysts at Citigroup from $105.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 72.73% from the company’s current price.

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group cut their price objective on shares of Roblox from $160.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Jefferies Financial Group set a $85.00 price objective on Roblox in a report on Thursday, January 15th. JPMorgan Chase & Co. decreased their price target on Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. DA Davidson began coverage on Roblox in a research note on Wednesday, March 4th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $100.00 price objective (down from $125.00) on shares of Roblox in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.28.

Roblox Stock Down 0.4%

NYSE RBLX traded down $0.21 during mid-day trading on Monday, hitting $52.11. The company’s stock had a trading volume of 4,377,466 shares, compared to its average volume of 11,793,992. The firm has a market capitalization of $34.47 billion, a price-to-earnings ratio of -33.58 and a beta of 1.62. The company’s 50 day simple moving average is $65.21 and its 200 day simple moving average is $92.15. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. Roblox has a twelve month low of $50.10 and a twelve month high of $150.59.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the company earned ($0.33) earnings per share. The business’s revenue was up 122.6% on a year-over-year basis. Analysts anticipate that Roblox will post -1.49 earnings per share for the current year.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 272,269 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the completion of the sale, the chief executive officer owned 811,373 shares of the company’s stock, valued at $58,954,362.18. The trade was a 25.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anthony P. Lee sold 59,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $79.96, for a total value of $4,717,640.00. Following the completion of the transaction, the director directly owned 257,258 shares in the company, valued at approximately $20,570,349.68. This represents a 18.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 636,248 shares of company stock worth $46,013,542. 12.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Large investors have recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. increased its stake in shares of Roblox by 164.4% in the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 194 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Roblox during the third quarter valued at about $26,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Roblox in the fourth quarter valued at about $27,000. Total Investment Management Inc. bought a new position in shares of Roblox in the second quarter worth about $29,000. Finally, GW&K Investment Management LLC grew its position in shares of Roblox by 76.3% during the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.