Citigroup Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its price target lifted by Citigroup from $53.00 to $63.00 in a research note published on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on RBLX. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $38.00 to $65.00 in a research report on Monday. Macquarie lifted their price objective on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group started coverage on shares of Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 target price on the stock. Canaccord Genuity Group lifted their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Stock Up 2.4 %

Shares of NYSE RBLX opened at $51.19 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a market cap of $31.10 billion, a PE ratio of -31.21 and a beta of 1.56. The company’s fifty day simple moving average is $43.79 and its 200 day simple moving average is $39.48. Roblox has a 12-month low of $29.55 and a 12-month high of $53.07.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned ($0.45) EPS. The business’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Roblox will post -1.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Guthrie sold 10,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $49.44, for a total transaction of $494,400.00. Following the transaction, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $17,444,607.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Roblox news, CFO Michael Guthrie sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $49.44, for a total transaction of $494,400.00. Following the sale, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at $17,444,607.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anthony P. Lee sold 200,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the transaction, the director now owns 4,707,579 shares of the company’s stock, valued at $236,932,451.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 989,341 shares of company stock valued at $44,391,412 over the last ninety days. 22.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roblox

Several institutional investors have recently made changes to their positions in RBLX. Vanguard Group Inc. grew its position in shares of Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after purchasing an additional 4,818,022 shares in the last quarter. Baillie Gifford & Co. grew its position in Roblox by 1.9% in the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after acquiring an additional 535,414 shares in the last quarter. ARK Investment Management LLC raised its position in Roblox by 12.9% during the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after purchasing an additional 1,519,591 shares in the last quarter. Ieq Capital LLC lifted its stake in Roblox by 27.6% during the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after purchasing an additional 2,684,713 shares during the last quarter. Finally, Dragoneer Investment Group LLC boosted its holdings in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after purchasing an additional 2,488,044 shares in 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.