Roblox (NYSE:RBLX) Stock Price Expected to Rise, Citigroup Analyst Says

Roblox (NYSE:RBLX) had its target price upped by analysts at Citigroup from $53.00 to $63.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 19.18% from the company’s current price.

Several other brokerages also recently commented on RBLX. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Raymond James boosted their price target on Roblox from $51.00 to $60.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group raised their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $38.00 to $65.00 in a research note on Monday. Finally, Wells Fargo & Company raised their price target on shares of Roblox from $54.00 to $58.00 and gave the company 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Price Performance

Shares of NYSE RBLX opened at $52.86 on Tuesday. The stock has a market capitalization of $32.12 billion, a PE ratio of -32.23 and a beta of 1.56. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $53.07. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The business has a fifty day moving average price of $43.93 and a two-hundred day moving average price of $39.59.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted ($0.45) earnings per share. Roblox’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Roblox will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the transaction, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction on Tuesday, August 20th. The shares were 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 owns 99,617 shares in the company, valued at $4,019,545.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Reinstra sold 12,000 shares of the stock in a transaction on 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 in the company, valued at approximately $13,706,240. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,029,373 shares of company stock worth $46,476,179. Company insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in 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 acquiring an additional 4,818,022 shares during the period. Baillie Gifford & Co. grew its position in Roblox by 1.9% in the 2nd quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock valued at $1,084,395,000 after purchasing an additional 535,414 shares during the period. ARK Investment Management LLC increased its stake in Roblox by 12.9% during the 2nd 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 raised its holdings 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 buying an additional 2,684,713 shares during the last quarter. Finally, Dragoneer Investment Group LLC lifted its stake in shares of Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after buying an additional 2,488,044 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

About Roblox

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.