These Analysts Revise Their Forecasts On Roblox After Q2 Results
Portfolio Pulse from Lisa Levin
Roblox Corp (RBLX) reported Q2 FY23 bookings growth of 22% YoY to $780.7 million, and revenue growth of 15% YoY to $680.8 million, missing the consensus of $784.9 million. The EPS loss of $(0.46) also missed the consensus loss of $(0.45). Following the earnings announcement, Morgan Stanley raised the price target on Roblox from $26 to $30 and upgraded the stock from Underweight to Equal-Weight, while Needham slashed the price target from $48 to $40 but maintained a Buy rating.
August 10, 2023 | 11:13 am
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NEGATIVE IMPACT
Roblox's Q2 FY23 results missed expectations, causing a 21.9% drop in share price. Analysts have revised their price targets and ratings following the announcement.
Roblox's lower-than-expected Q2 results have led to a significant drop in its share price. This negative performance is likely to impact investor sentiment in the short term, hence the negative score. The revised price targets and ratings from analysts further highlight the relevance and importance of this news to Roblox.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100