RBLX Stock Recent News

The post-pandemic struggles and the overall slowdown in the gaming industry have significantly impacted many franchises, with Roblox (NYSE: RBLX) suffering the same fate after announcing Q1 earnings.

Shares of Roblox Corp. RBLX, -3.72% tumbled 29.2% in premarket trading Thursday, toward a record one-day selloff, after the online gaming company reported first-quarter revenue that was well below expectations and provided a downbeat current-quarter outlook. Net losses came in at $270.6 million, or 43 cents a share, after losses of $268.3 million, or 44 cents a share, in the same period a year ago.

Roblox cut its annual bookings forecast on Thursday, in a sign that people were dialing back on spending within its video-gaming platform amid an uncertain economic outlook and elevated levels of inflation.

Today, global online gaming platform Roblox Corporation released its Q1 2024 financial results before US markets opened. As one of the most widely used gaming platforms in the United States, and one of the most aggressively growing ones worldwide, Roblox has enormous potential – and investor excitement – built up for the 2024 year.

Meta Platforms (NASDAQ: META ) is still losing billions of dollars on the metaverse. In fact, in the company's latest earnings call, CEO Mark Zuckerberg spent a good deal of time talking about how Meta loses money, including the $3.8 billion it lost on the metaverse.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

Besides Wall Street's top -and-bottom-line estimates for Roblox (RBLX), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended March 2024.

Roth MKM sees Roblox's momentum in user monetization and growth lifting the share price. The firm maintained a buy rating on the shares with a $55 price target.

The consensus price target hints at a 34.1% upside potential for Roblox (RBLX). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Roblox is rolling out virtual billboards with video advertisements, the gaming platform said on Wednesday, in its latest move to draw revenue from its games that are mostly free to play.