Roblox (NYSE:RBLX) Price Target Raised to $63.00

Roblox (NYSE:RBLX) had its price objective increased by Citigroup from $53.00 to $63.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

RBLX has been the topic of a number of other reports. Macquarie boosted their price target on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. The Goldman Sachs Group increased their target price on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $65.00 in a research note on Monday. Needham & Company LLC upped 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, Canaccord Genuity Group raised their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.30.

Roblox Stock Up 0.4 %

RBLX opened at $53.11 on Tuesday. The business has a 50 day moving average price of $44.11 and a two-hundred day moving average price of $39.68. Roblox has a 52 week low of $29.55 and a 52 week high of $53.66. The company has a market cap of $32.27 billion, a PE ratio of -32.38 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last issued its quarterly earnings results 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. The firm 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%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. As a group, research analysts anticipate that Roblox will post -1.58 EPS for the current year.

Insider Buying and Selling at Roblox

In other news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Roblox news, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,029,373 shares of company stock worth $46,476,179. 22.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Roblox

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after acquiring an additional 548 shares during the last quarter. Norden Group LLC acquired a new position in Roblox during the first quarter worth approximately $230,000. Private Advisor Group LLC raised its stake in Roblox by 4.4% during the first quarter. Private Advisor Group LLC now owns 60,111 shares of the company’s stock worth $2,295,000 after purchasing an additional 2,506 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Roblox by 4.8% in the 1st quarter. Nordea Investment Management AB now owns 28,492 shares of the company’s stock valued at $1,104,000 after purchasing an additional 1,298 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Roblox by 1.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 49,070 shares of the company’s stock valued at $1,873,000 after buying an additional 600 shares during the period. 91.08% of the stock is currently owned by hedge funds and other 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.