Citigroup Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

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

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their target price on Roblox from $51.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday. Macquarie increased their price target on Roblox from $50.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday. Piper Sandler increased their target price on Roblox from $54.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday. Benchmark boosted their price target on Roblox from $44.00 to $60.00 and gave the company a "buy" rating in a research note on Friday. Finally, Canaccord Genuity Group upped their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Roblox currently has an average rating of "Moderate Buy" and an average price target of $55.30.

Roblox Trading Up 2.9 %

Roblox stock traded up $1.44 during trading hours on Tuesday, reaching $51.44. 8,217,132 shares of the company's stock traded hands, compared to its average volume of 7,466,222. The firm's 50 day moving average is $43.79 and its 200-day moving average is $39.48. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $53.07. The firm has a market capitalization of $31.25 billion, a price-to-earnings ratio of -30.49 and a beta of 1.56.

Roblox (NYSE:RBLX - Get Free Report) last posted 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. The business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. Roblox's quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. On average, analysts predict that Roblox will post -1.59 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other news, Director Anthony P. Lee sold 200,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 4,707,579 shares in the company, valued at $236,932,451.07. This trade 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 hyperlink. 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 transaction of $10,066,000.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 10,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 352,844 shares of the company's stock, valued at approximately $17,444,607.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 989,341 shares of company stock worth $44,391,412. Insiders own 22.15% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RBLX. V Square Quantitative Management LLC purchased a new stake in Roblox in the third quarter valued at approximately $27,000. PARK CIRCLE Co bought a new stake in shares of Roblox in the second quarter worth about $30,000. GAMMA Investing LLC increased its position in shares of Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company's stock valued at $41,000 after buying an additional 530 shares during the period. Gilliland Jeter Wealth Management LLC boosted its position in Roblox by 102.4% during 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. Finally, Washington Trust Advisors Inc. purchased a new position in Roblox during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 91.08% of the company's stock.

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.