However, the market largely ignored these positive data points, contributing to the steep drop in the stock price.Ĭurrently, analysts have given Roblox a Moderate Buy rating on TipRanks, with an average price target of $43.80, indicating a potential upside of 48.7%. These figures demonstrate Roblox’s operational success and growth potential. Roblox’s CEO, David Baszucki, highlighted the company’s positive data from Q2 2023, which included a 25% YoY increase in daily active users (DAUs) to 65.5 million, a 24% YoY increase in engaged hours to 14 billion, and a 22% YoY increase in bookings to $780.7 million. ![]() While not an ideal result, it is important to note that Roblox is still considered a startup and is expected to experience significant growth alongside the Metaverse. Additionally, Roblox recorded a quarterly loss of $0.46 per share, slightly exceeding analysts’ predictions of $0.44 per share. Although this fell short of Wall Street’s expectations of $784.9 million, a 15% annualized sales growth should still be considered a commendable achievement. In Q2 2023, Roblox generated $680.8 million in revenue, representing a 15% increase year-over-year. Despite this, there are reasons to believe that Roblox may still be an attractive investment option. ![]() Roblox, a California-based company that develops and commercializes video games with metaverse functionality, took a significant hit in its stock price on August 9.
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