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

Insiders at Accenture, Roblox, Lyft, and Coinbase Global have recently sold shares of their companies. While insider sales can be part of preplanned transactions, they can also signal a lack of confidence in the company's prospects or that the stock is overvalued. Accenture's director sold shares after a positive earnings report, Roblox's director sold shares following an Overweight rating initiation, Lyft's CAO sold shares after a price target increase, and Coinbase's director sold shares amidst international expansion.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 1:51 pm

Roblox Corporation (NYSE:RBLX) has experienced a 13.87% increase in short interest since its last report, with 22.09 million shares sold short, representing 5.5% of its float. The average time to cover these short positions is 2.26 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. Roblox has a higher short interest compared to its peer group average of 3.66%.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 7:45 pm

Cathie Wood, CEO of ARK Invest, predicts deflation in 2024, leading to aggressive rate cuts by the Federal Reserve. She emphasizes a focus on innovation and technological advancements, particularly in AI and gene editing technologies. ARK's flagship fund, ARK Innovation ETF (ARKK), has seen a 70% year-to-date increase and is diversifying its portfolio. Wood has shown renewed interest in Meta Platforms Inc. (META) and highlighted the potential of CRISPR Therapeutics. Coinbase Global Inc. (COIN) has become ARK's top holding, surpassing Tesla Inc. (TSLA). Other key holdings include UI Path Inc. (PATH), Zoom Video Communication Inc. (ZM), Roku Inc. (ROKU), Block Inc. (SQ), Roblox Corp. (RBLX), and CRISPR Therapeutics AG (CRSP).

Portfolio Pulse from Piero Cingari

December 22, 2023 | 8:32 pm

Stifel Financial Corp.'s 2024 gaming report suggests a weaker lineup compared to 2023, with potential challenges in sales performance. The report forecasts a decline in consumer spending on new console and PC games, but identifies Take-Two Interactive (TTWO) and Electronic Arts (EA) as favorable prospects. Take-Two's GTA VI is expected to be a growth catalyst, while EA's live services contribute to net bookings. The report is neutral on CD PROJEKT (OTGLY) and Ubisoft (UBSFF), and sees opportunities in Corsair Gaming (CRSR), Turtle Beach (HEAR), and Roblox (RBLX) due to their market segments. The industry's software development costs and developer headcount show positive trends, but their impact may not be immediate.

Portfolio Pulse from Franca Quarneti

December 21, 2023 | 3:11 pm

Roblox Corp (NYSE:RBLX) stock rose after Wells Fargo analyst Ken Gawrelski initiated coverage with an Overweight rating and a price target of $49, citing advertising upside and a strong free cash flow projection. The company's engagement with pop culture, demonstrated by Nicki Minaj's collaboration, and its Investor Day highlights, including advertising strategies and bookings growth, support the positive outlook. RBLX shares were up 1.71% at $42.76.

Portfolio Pulse from Anusuya Lahiri

December 13, 2023 | 5:23 pm

Five stocks in the communication services sector are showing overbought signals according to their RSI values, potentially indicating a short-term pullback. System1, Inc. (SST), Gannett Co., Inc. (GCI), Tencent Music Entertainment Group (TME), Take-Two Interactive Software, Inc. (TTWO), and Roblox Corporation (RBLX) have all seen significant price increases recently, which has pushed their RSI values above the typical overbought threshold of 70.

Portfolio Pulse from Avi Kapoor

December 13, 2023 | 1:35 pm

Wells Fargo analyst Ken Gawrelski has initiated coverage on Roblox (NYSE:RBLX) with an Overweight rating and set a price target of $49.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 12:27 pm

Nicki Minaj is collaborating with Roblox Corp (NYSE:RBLX) for the launch of her new album 'Pink Friday 2,' which has already topped the US Apple Music charts, surpassing SZA's 'SOS'. The album, produced by Universal Music Group NV (OTC:UMGNF), features artists like J. Cole and Drake. Roblox shares surged by 2.93% following the news, with strong Q3 FY23 results showing a 20% increase in Bookings and a 38% revenue rise. The stock has surged over 46% year-to-date.

Portfolio Pulse from Franca Quarneti

December 08, 2023 | 6:12 pm

Roblox Corp (NYSE:RBLX) stock is experiencing an uptick due to reports of Nicki Minaj joining the platform for her new album release. A placeholder on Roblox hints at a potential game or event for 'Pink Friday 2'. Roblox's Q3 FY23 financials showed strong growth, with Bookings up 20% Y/Y and revenue up 38% Y/Y. DAUs and monthly unique payers also saw significant increases. The stock has risen over 46% YTD.

Portfolio Pulse from Anusuya Lahiri

December 08, 2023 | 2:58 pm

Third-party data indicates that Roblox (RBLX) experienced an acceleration in bookings to over 30% in November, up from under 20% in October. Additionally, daily active users (DAUs) and hours engaged have also shown an increase.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 2:46 pm

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