Roblox (NYSE:RBLX) Given New $152.00 Price Target at Citigroup

Roblox (NYSE:RBLX - Free Report) had its price target raised by Citigroup from $123.00 to $152.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on RBLX. BTIG Research upped their target price on Roblox from $73.00 to $124.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Raymond James Financial downgraded Roblox from a "strong-buy" rating to an "outperform" rating and upped their price objective for the company from $81.00 to $130.00 in a research note on Wednesday. Piper Sandler restated an "overweight" rating and issued a $105.00 price objective (up from $85.00) on shares of Roblox in a report on Thursday, June 5th. Wells Fargo & Company increased their price target on Roblox from $78.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Finally, Barclays increased their target price on shares of Roblox from $46.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.95.

Roblox Price Performance

NYSE RBLX traded up $2.25 during trading on Wednesday, hitting $120.37. 2,276,419 shares of the company's stock were exchanged, compared to its average volume of 8,644,620. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. The company has a market cap of $81.65 billion, a PE ratio of -89.83 and a beta of 1.60. Roblox has a fifty-two week low of $35.30 and a fifty-two week high of $127.99. The stock's 50 day moving average price is $99.93 and its two-hundred day moving average price is $75.98.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The firm's quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) EPS. Research analysts expect that Roblox will post -1.49 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction on Monday, May 5th. The stock was sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the completion of the sale, the chief executive officer owned 221,983 shares of the company's stock, valued at approximately $16,024,952.77. This trade represents a 86.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 6,651,690 shares of company stock valued at $593,440,562. 12.92% of the stock is owned by company insiders.

Institutional Trading of Roblox

A number of large investors have recently modified their holdings of RBLX. Mirae Asset Global Investments Co. Ltd. lifted its stake in Roblox by 15.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock worth $2,096,000 after purchasing an additional 4,760 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Roblox in the 1st quarter worth approximately $890,000. IFM Investors Pty Ltd lifted its position in Roblox by 7.2% in the 1st quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock worth $5,370,000 after buying an additional 6,180 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new stake in shares of Roblox in the 1st quarter worth approximately $280,000. Finally, Montag A & Associates Inc. lifted its holdings in shares of Roblox by 1,193.7% in the 1st quarter. Montag A & Associates Inc. now owns 26,934 shares of the company's stock worth $1,570,000 after acquiring an additional 24,852 shares during the last quarter. Institutional investors own 94.46% 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.