Roblox (NYSE:RBLX) Given New $63.00 Price Target at Citigroup

Roblox (NYSE:RBLX) had its price target hoisted by Citigroup from $53.00 to $63.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their price target on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley raised shares of Roblox from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $38.00 to $65.00 in a report on Monday. Wells Fargo & Company increased their price target on shares of Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler increased their target price on Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Roblox currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.30.

Roblox Stock Performance

NYSE RBLX opened at $51.19 on Tuesday. The firm has a market capitalization of $31.10 billion, a P/E ratio of -31.21 and a beta of 1.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm’s fifty day moving average price is $43.79 and its two-hundred day moving average price is $39.48. Roblox has a 1 year low of $29.55 and a 1 year high of $53.07.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted ($0.45) EPS. As a group, research analysts anticipate that Roblox will post -1.59 EPS for the current year.

Insider Buying and Selling at Roblox

In other news, Director Anthony P. Lee sold 200,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the transaction, the director now owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Anthony P. Lee sold 200,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the transaction, the director now directly owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Guthrie sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $49.44, for a total value of $494,400.00. Following the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at approximately $17,444,607.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 989,341 shares of company stock worth $44,391,412 over the last 90 days. Insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake 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 buying an additional 4,818,022 shares during the period. Baillie Gifford & Co. raised its holdings in Roblox by 1.9% during the 2nd quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after purchasing an additional 535,414 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Roblox by 12.9% in the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock worth $496,338,000 after purchasing an additional 1,519,591 shares during the period. Ieq Capital LLC increased its position in shares of 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 buying an additional 2,684,713 shares during the period. Finally, Dragoneer Investment Group LLC raised its stake in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares during the last quarter. 91.08% of the stock is owned by 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.