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Roblox (RBLX) Gains As Market Dips: What You Should Know
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Roblox (RBLX - Free Report) closed the latest trading day at $35.53, indicating a +1.6% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.46%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Prior to today's trading, shares of the online gaming platform had lost 7.68% over the past month. This has lagged the Consumer Discretionary sector's loss of 5.7% and the S&P 500's loss of 3.04% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Roblox in its upcoming earnings disclosure. The company's earnings report is set to go public on May 9, 2024. The company's upcoming EPS is projected at -$0.54, signifying a 22.73% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $931.05 million, indicating a 20.32% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.10 per share and a revenue of $4.23 billion, demonstrating changes of -12.3% and +20.12%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Roblox. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Roblox presently features a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 189, positioning it in the bottom 25% 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.
To follow RBLX in the coming trading sessions, be sure to utilize Zacks.com.
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Roblox (RBLX) Gains As Market Dips: What You Should Know
Roblox (RBLX - Free Report) closed the latest trading day at $35.53, indicating a +1.6% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.46%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Prior to today's trading, shares of the online gaming platform had lost 7.68% over the past month. This has lagged the Consumer Discretionary sector's loss of 5.7% and the S&P 500's loss of 3.04% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Roblox in its upcoming earnings disclosure. The company's earnings report is set to go public on May 9, 2024. The company's upcoming EPS is projected at -$0.54, signifying a 22.73% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $931.05 million, indicating a 20.32% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.10 per share and a revenue of $4.23 billion, demonstrating changes of -12.3% and +20.12%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Roblox. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Roblox presently features a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 189, positioning it in the bottom 25% 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.
To follow RBLX in the coming trading sessions, be sure to utilize Zacks.com.