Roblox Stock Faces Death Cross As Mixed Earnings, Downgraded Outlook Signal Trouble Ahead
Portfolio Pulse from Surbhi Jain
Roblox Corp (NYSE:RBLX) faces a bearish outlook due to mixed earnings, a downgraded forecast, and the formation of a Death Cross. Despite some positive metrics, the stock has declined significantly, and analysts have reduced its price target.
May 29, 2024 | 5:44 pm
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Roblox Corp (NYSE:RBLX) has experienced a significant decline in stock price due to mixed earnings results, a downgraded forecast, and the formation of a Death Cross. Analysts have reduced the price target from $55 to $35, indicating a bearish outlook.
The stock has declined significantly year-to-date and over the past year. The mixed earnings report, weaker-than-expected bookings forecast, and the formation of a Death Cross indicate a bearish trend. The downgrade by Roth MKM and reduced price target further support this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100