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

Roblox (NYSE:RBLX - Free Report) had its price objective increased by Citigroup from $63.00 to $82.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

RBLX has been the topic of a number of other research reports. The Goldman Sachs Group raised their price target on Roblox from $45.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Barclays boosted their target price on Roblox from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. Piper Sandler reiterated an "overweight" rating and set a $72.00 price target (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of Roblox from $62.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, January 10th. Finally, Benchmark lifted their target price on shares of Roblox from $44.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.19.

Roblox Stock Down 1.1 %

RBLX stock traded down $0.71 during trading on Monday, reaching $66.41. 23,957,585 shares of the stock were exchanged, compared to its average volume of 9,656,356. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a twelve month low of $29.55 and a twelve month high of $75.74. The firm's 50 day moving average is $62.47 and its 200 day moving average is $50.62. The firm has a market cap of $40.34 billion, a P/E ratio of -40.49 and a beta of 1.46.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. As a group, research analysts forecast that Roblox will post -1.56 EPS for the current year.

Insider Activity

In other news, Director Anthony P. Lee sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $52.34, for a total value of $1,308,500.00. Following the completion of the transaction, the director now owns 5,731,695 shares in the company, valued at $299,996,916.30. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Baszucki sold 333,334 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $57.31, for a total value of $19,103,371.54. Following the completion of the sale, the chief executive officer now directly owns 129,295 shares in the company, valued at approximately $7,409,896.45. The trade was a 72.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,306,335 shares of company stock valued at $77,348,316. Corporate insiders own 22.15% of the company's stock.

Institutional Investors Weigh In On Roblox

Hedge funds have recently bought and sold shares of the business. Wealthfront Advisers LLC grew its stake in shares of Roblox by 74,400.8% in the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock worth $1,063,365,000 after buying an additional 17,312,325 shares during the last quarter. ValueAct Holdings L.P. boosted its holdings in Roblox by 340.7% in the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company's stock worth $448,616,000 after acquiring an additional 7,835,921 shares in the last quarter. FMR LLC grew its stake in shares of Roblox by 24.5% in the third quarter. FMR LLC now owns 20,942,691 shares of the company's stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of Roblox by 26.8% during the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company's stock valued at $960,049,000 after acquiring an additional 3,507,901 shares in the last quarter. Finally, Whale Rock Capital Management LLC purchased a new position in shares of Roblox in the 3rd quarter worth about $107,491,000. 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.