Streetbeat News

RBLX

Roblox Corporation

https://corp.roblox.com

Industry

Electronic Gaming & Multimedia

Roblox Corporation develops and operates an online entertainment platform. The company offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform. It serves customers in the United States, the United Kingdom, Canada, Europe, China, the Asia-Pacific, and internationally. The company was incorporated in 2004 and is headquartered in San Mateo, California.

Open

52.50

Mkt cap

33B

Volume

9.1M

High

52.53

P/E Ratio

-31.12

52-wk high

55.10

Low

50.68

Div yield

N/A

52-wk low

29.55

Apple Inc (AAPL) is overhauling its App Store in Europe to comply with the EU's Digital Markets Act, set to take effect on March 7. The changes will allow alternative app stores and payment methods, and introduce a new menu for browsers. This has caused shares of companies like Roblox (RBLX), Spotify (SPOT), and Match Group (MTCH) to rise, while Apple's shares fell by about 1%.

Portfolio Pulse from Adam Eckert

January 25, 2024 | 7:35 pm

Benchmark analyst Mike Hickey has reiterated a Buy rating on Roblox Corporation (NYSE:RBLX) and maintained a price target of $46.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 4:51 pm

Benchmark analyst Mike Hickey has reiterated a Buy rating on Roblox Corporation (NYSE:RBLX) and maintained a price target of $46.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:55 pm

Goldman Sachs has reaffirmed its Sell rating on Roblox Corporation (NYSE:RBLX) but increased its price target from $26.00 to $35.00. Despite the upgrade in the price target, the new target still suggests a potential downside of 10.71% from the current trading price of $39.20. Roblox operates an online platform allowing users to create and monetize games, and it earns revenue through a variety of channels while leveraging outsourced game development.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 5:00 pm

Goldman Sachs analyst Kevin Kumar has maintained a Sell rating on Roblox Corporation (NYSE:RBLX) but increased the price target from $26 to $35.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:43 pm

Roblox Corporation (NYSE: RBLX) has seen a decrease in short interest, with the short percent of float dropping 9.27% since the last report. The company has 20.02 million shares sold short, representing 4.99% of available shares for trading. The current short interest is higher than the peer group average of 3.76%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 1:30 pm

BMO Capital Markets released an industry primer with a positive outlook for the gaming sector in 2024, highlighting the growth potential of megahit titles and the expanding console market. The report emphasizes the importance of owning franchises like Electronic Arts Inc's EA Sports FC, Take-Two Interactive Software Inc's Grand Theft Auto, and Roblox Corp's Roblox, citing their strong positions and potential for revenue growth. The gaming industry has seen revenues double to $193 billion in 2023, with 3.4 billion gamers globally. BMO projects robust growth in the console market, particularly in the U.S., and recommends investing in companies with significant console game revenue like EA and Take-Two. The report also notes the evolution of business models and the dominance of megahit titles as key investment drivers. Roblox is highlighted for its unique platform and user retention beyond age 13, with expectations of improved monetization and cash flows.

Portfolio Pulse from Franca Quarneti

January 09, 2024 | 7:18 pm

Roblox (NYSE:RBLX) has been evaluated by 15 analysts over the last three months, with a mix of bullish and bearish sentiments. The average 12-month price target for RBLX is now $44.0, up 18.06% from the previous $37.27, with a range of $26.00 to $55.00. Analysts from firms like BMO Capital, Wells Fargo, and Goldman Sachs have provided various ratings and price target adjustments, reflecting changes in market conditions and company performance. Roblox's financial performance shows strong revenue growth and net margin, but a high debt-to-equity ratio and low ROE.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 6:00 pm

BMO Capital analyst Brian Pitz has initiated coverage on Roblox Corporation (NYSE:RBLX) with an Outperform rating and set a price target of $55.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:48 am

Meta Platforms, Inc. (NASDAQ:META) has permanently reduced the price of its Quest 2 VR headset following the launch of Quest 3. The 128GB model is now $249, down from $299, and the 256GB model is $299, down from $349. Prices for various Quest 2 accessories have also been lowered. This move comes after a previous price increase in July 2022 and a reversion to the original price in June. The price cut aims to make VR more accessible and boost sales, which have been affected by shoppers' reluctance to try on headsets in stores due to hygiene concerns. Meta's VR platform includes over 500 games, with Roblox Corp (NYSE:RBLX) available on the Quest via the Meta Quest Store. META shares were down 1.31% at $349.31 in the last check.

Portfolio Pulse from Anusuya Lahiri

January 02, 2024 | 2:41 pm

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