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

by · The Cerbat Gem

Roblox (NYSE:RBLX – Free Report) 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.

RBLX has been the topic of several other reports. Wells Fargo & Company upped their price target on shares of Roblox from $41.00 to $43.00 and gave the company an overweight rating in a report on Monday, July 8th. Benchmark raised their target price on Roblox from $40.00 to $44.00 and gave the stock a buy rating in a report on Friday, August 2nd. Wolfe Research started coverage on Roblox in a report on Tuesday, July 16th. They issued a peer perform rating for the company. Jefferies Financial Group started coverage on shares of Roblox in a research note on Thursday, July 11th. They set a hold rating and a $42.00 price objective on the stock. Finally, Needham & Company LLC lifted their price objective on shares of Roblox from $40.00 to $50.00 and gave the company a buy rating in a report on Friday, August 2nd. 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 company’s stock. According to MarketBeat, Roblox presently has a consensus rating of Moderate Buy and a consensus price target of $44.81.

View Our Latest Research Report on RBLX

Roblox Stock Down 1.5 %

Shares of RBLX stock opened at $44.18 on Wednesday. Roblox has a fifty-two week low of $27.11 and a fifty-two week high of $48.43. The firm has a market capitalization of $26.44 billion, a PE ratio of -23.75 and a beta of 1.60. 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’s 50-day simple moving average is $42.36 and its 200-day simple moving average is $38.57.

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

Insiders Place Their Bets

In other Roblox news, insider Mark Reinstra sold 12,000 shares of Roblox stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,706,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roblox news, insider Arvind Chakravarthy sold 14,176 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $43.94, for a total value of $622,893.44. Following the transaction, the insider now owns 276,892 shares of the company’s stock, valued at $12,166,634.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Reinstra sold 12,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 792,341 shares of company stock valued at $33,923,126. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several large investors have recently made changes to their positions in RBLX. PARK CIRCLE Co acquired a new position in Roblox during the second quarter worth $30,000. Strategic Financial Concepts LLC purchased a new position in Roblox during the 2nd quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC grew its position in Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in Roblox during the first quarter worth about $39,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Roblox by 98.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock worth $42,000 after purchasing an additional 548 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

About Roblox

(Get Free Report)

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.

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