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Roblox (RBLX) Falls More Steeply Than Broader Market: What Investors Need to Know
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Roblox (RBLX - Free Report) closed the latest trading day at $30.55, indicating a -1.77% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 1.18%. Meanwhile, the Dow experienced a drop of 0.76%, and the technology-dominated Nasdaq saw a decrease of 1.76%.
The online gaming platform's stock has climbed by 13.55% in the past month, exceeding the Consumer Discretionary sector's loss of 1.32% and the S&P 500's loss of 3.35%.
The investment community will be closely monitoring the performance of Roblox in its forthcoming earnings report. The company is scheduled to release its earnings on November 8, 2023. On that day, Roblox is projected to report earnings of -$0.52 per share, which would represent a year-over-year decline of 4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $827.85 million, up 17.97% from the year-ago period.
RBLX's full-year Zacks Consensus Estimates are calling for earnings of -$1.90 per share and revenue of $3.43 billion. These results would represent year-over-year changes of -22.58% and +19.38%, respectively.
Investors might also notice recent changes to analyst estimates for Roblox. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% higher. Roblox is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Roblox (RBLX) Falls More Steeply Than Broader Market: What Investors Need to Know
Roblox (RBLX - Free Report) closed the latest trading day at $30.55, indicating a -1.77% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 1.18%. Meanwhile, the Dow experienced a drop of 0.76%, and the technology-dominated Nasdaq saw a decrease of 1.76%.
The online gaming platform's stock has climbed by 13.55% in the past month, exceeding the Consumer Discretionary sector's loss of 1.32% and the S&P 500's loss of 3.35%.
The investment community will be closely monitoring the performance of Roblox in its forthcoming earnings report. The company is scheduled to release its earnings on November 8, 2023. On that day, Roblox is projected to report earnings of -$0.52 per share, which would represent a year-over-year decline of 4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $827.85 million, up 17.97% from the year-ago period.
RBLX's full-year Zacks Consensus Estimates are calling for earnings of -$1.90 per share and revenue of $3.43 billion. These results would represent year-over-year changes of -22.58% and +19.38%, respectively.
Investors might also notice recent changes to analyst estimates for Roblox. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% higher. Roblox is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.