Roblox (NYSE:RBLX) PT Raised to $53.00 at Citigroup

Roblox (NYSE:RBLX) had its price target increased by Citigroup from $46.00 to $53.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 11.02% from the company’s previous close.

Other analysts have also issued reports about the company. Wolfe Research initiated coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. BTIG Research raised their price objective on shares of Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Macquarie upped their target price on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays lifted their price target on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Eight investment 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 stock. According to MarketBeat.com, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.81.

Roblox Stock Up 1.3 %

Shares of RBLX traded up $0.63 during trading hours on Wednesday, hitting $47.74. The stock had a trading volume of 4,964,599 shares, compared to its average volume of 7,221,459. The firm has a market capitalization of $28.57 billion, a P/E ratio of -25.65 and a beta of 1.60. Roblox has a 1-year low of $25.98 and a 1-year high of $48.43. The firm has a 50 day simple moving average of $42.04 and a 200-day simple moving average of $38.44. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating 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 business had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. During the same quarter in the previous year, the business earned ($0.46) EPS. The company’s quarterly revenue was up 31.2% on a year-over-year basis. Sell-side analysts predict that Roblox will post -1.59 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, insider Arvind Chakravarthy sold 592 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total value of $25,645.44. Following the sale, the insider now owns 276,892 shares of the company’s stock, valued at approximately $11,994,961.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Arvind Chakravarthy sold 592 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the transaction, the insider now owns 276,892 shares in the company, valued at $11,994,961.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the sale, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 779,341 shares of company stock worth $33,302,376. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently bought and sold shares of the stock. PARK CIRCLE Co purchased a new stake in shares of Roblox in the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC purchased a new position in shares of Roblox during the second quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Roblox in the 1st quarter worth approximately $39,000. Finally, Allspring Global Investments Holdings LLC increased its position in Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after buying an additional 548 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.