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

Roblox (NYSE:RBLX) had its price target decreased by Citigroup from $105.00 to $90.00 in a report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research firms also recently weighed in on RBLX. Needham & Company LLC lowered their target price on Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Roth Mkm upgraded Roblox from a “neutral” rating to a “buy” rating and boosted their price target for the company from $78.00 to $84.00 in a research note on Monday, February 9th. The Goldman Sachs Group reduced their price target on shares of Roblox from $180.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, February 6th. DA Davidson assumed coverage on shares of Roblox in a research note on Wednesday, March 4th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, Freedom Capital raised shares of Roblox from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.28.

Roblox Price Performance

Shares of NYSE:RBLX opened at $51.89 on Monday. 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 firm has a market cap of $34.34 billion, a price-to-earnings ratio of -33.48 and a beta of 1.62. The business has a 50-day simple moving average of $64.50 and a two-hundred day simple moving average of $91.58. Roblox has a fifty-two week low of $50.10 and a fifty-two week high of $150.59.

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

Insider Activity

In other Roblox news, CEO David Baszucki sold 10,834 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $61.63, for a total value of $667,699.42. Following the completion of the sale, the chief executive officer owned 800,539 shares in the company, valued at approximately $49,337,218.57. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Arvind Chakravarthy sold 40,646 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total value of $2,732,630.58. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 636,248 shares of company stock worth $46,013,542. 12.92% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Roblox during the 3rd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Roblox in the third quarter worth about $37,000. Total Investment Management Inc. bought a new stake in shares of Roblox in the second quarter worth about $29,000. Root Financial Partners LLC purchased a new stake in shares of Roblox in the third quarter worth about $38,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after buying an additional 105 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

About Roblox

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.