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Roblox (RBLX) Gains As Market Dips: What You Should Know
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Roblox (RBLX - Free Report) closed at $86.88 in the latest trading session, marking a +0.56% move from the prior day. This move outpaced the S&P 500's daily loss of 0.86%.
Coming into today, shares of the online gaming platform had lost 5.1% in the past month. In that same time, the Consumer Discretionary sector lost 1.44%, while the S&P 500 gained 3.22%.
Investors will be hoping for strength from RBLX as it approaches its next earnings release.
Any recent changes to analyst estimates for RBLX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.6% higher. RBLX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, RBLX is currently trading at a Forward P/E ratio of 84.29. For comparison, its industry has an average Forward P/E of 25.87, which means RBLX is trading at a premium to the group.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Roblox (RBLX) Gains As Market Dips: What You Should Know
Roblox (RBLX - Free Report) closed at $86.88 in the latest trading session, marking a +0.56% move from the prior day. This move outpaced the S&P 500's daily loss of 0.86%.
Coming into today, shares of the online gaming platform had lost 5.1% in the past month. In that same time, the Consumer Discretionary sector lost 1.44%, while the S&P 500 gained 3.22%.
Investors will be hoping for strength from RBLX as it approaches its next earnings release.
Any recent changes to analyst estimates for RBLX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.6% higher. RBLX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, RBLX is currently trading at a Forward P/E ratio of 84.29. For comparison, its industry has an average Forward P/E of 25.87, which means RBLX is trading at a premium to the group.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.