![]() I don't think it is a good time to buy Roblox stock, which is why I retain a Neutral rating for Roblox Corporation. I am more concerned about Roblox's medium-to-long-term growth prospects rather than its short-term growth expectations, as RBLX's potential failure to attract older users and intensifying competition pose downside risks. But RBLX's share price is now above the mean sell-side analyst price target, and the stock's current valuations are demanding at consensus forward FY 2022 Enterprise Value-to-Revenue and EV/EBITDA multiples of 16.7 times and 77.0 times, respectively. Roblox's stock price has already doubled from its reference price at IPO ($45), and the company's recent 1Q 2021 financial performance, especially its better-than-expected bookings, drove its share price surge in the past one month. ![]() This current article provides an update on Roblox Corporation with the aim of assessing if it is a good time to buy the stock now. I previously initiated on RBLX with an article published on March 18, 2021. I continue to maintain my Neutral rating for Roblox Corporation (NYSE: NYSE: RBLX), implying that the company's shares are a Hold at this point in time. Photo by Ian Tuttle/Getty Images Entertainment via Getty Images Elevator Pitch
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