Roblox Analysts Increase Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
Roblox Corp (NYSE:RBLX) reported a 25% Y/Y increase in Q4 FY23 Bookings to $1.13 billion, surpassing the $1.08 billion consensus. GAAP EPS loss was 52 cents, better than the expected 55 cents loss. Revenue grew 30% Y/Y to $749.9 million. DAUs increased by 22% to 71.5 million, and Hours Engaged rose by 21% to 15.5 billion. CEO David Baszucki expressed confidence in reaching over 1 billion DAUs. Q1 and FY24 bookings forecasts exceed consensus. Following the report, RBLX shares surged 10.2%, and analysts from Needham, Goldman Sachs, and Barclays raised their price targets.
February 08, 2024 | 11:59 am
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Roblox Corp reported strong Q4 FY23 results with significant growth in bookings, revenue, and DAUs. Analysts have raised their price targets, reflecting optimism in its growth trajectory.
Roblox's Q4 earnings report showed significant year-on-year growth in key metrics like bookings, revenue, and DAUs, surpassing analyst expectations. This positive performance, coupled with the company's optimistic bookings forecast for Q1 and FY24, has led to a surge in its stock price. Analysts from Needham, Goldman Sachs, and Barclays have raised their price targets, indicating a bullish outlook on the stock. The combination of strong earnings results and positive analyst sentiment is likely to have a favorable short-term impact on Roblox's stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100