Citigroup Cuts Roblox (NYSE:RBLX) Price Target to $90.00

Roblox (NYSE:RBLX) had its price objective cut by Citigroup from $105.00 to $90.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Barclays decreased their price objective on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Canaccord Genuity Group dropped their target price on shares of Roblox from $160.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. B. Riley Financial initiated coverage on shares of Roblox in a research report on Tuesday, December 9th. They set a “buy” rating and a $125.00 target price on the stock. Wall Street Zen upgraded Roblox from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, The Goldman Sachs Group dropped their price objective on Roblox from $180.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $118.28.

Roblox Trading Up 2.0%

Shares of NYSE RBLX opened at $57.72 on Monday. Roblox has a fifty-two week low of $50.10 and a fifty-two week high of $150.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $38.19 billion, a price-to-earnings ratio of -37.24 and a beta of 1.67. The business’s 50 day moving average price is $63.69 and its 200-day moving average price is $90.80.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.Roblox’s revenue was up 122.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.33) EPS. On average, sell-side analysts expect that Roblox will post -1.49 earnings per share for the current year.

Insider Transactions at Roblox

In other news, insider Arvind Chakravarthy sold 40,646 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total transaction of $2,732,630.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anthony P. Lee sold 7,000 shares of Roblox stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total transaction of $577,150.00. Following the transaction, the director directly owned 256,768 shares in the company, valued at approximately $21,170,521.60. The trade was a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 636,248 shares of company stock worth $46,013,542. Insiders own 12.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Reyes Financial Architecture Inc. lifted its stake in shares of Roblox by 164.4% during the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 194 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Roblox in the third quarter valued at about $26,000. Fideuram Asset Management Ireland dac bought a new position in Roblox in the fourth quarter worth about $27,000. Total Investment Management Inc. bought a new position in Roblox in the second quarter worth about $29,000. Finally, GW&K Investment Management LLC lifted its position in shares of Roblox by 76.3% during the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.