Roblox Analysts Slash Their Forecasts After Q2 Results

Benzinga Earnings
3 hours ago

Roblox Corp. (NYSE:RBLX) on Thursday posted a narrower-than-expected loss for the second quarter.

Roblox reported quarterly losses of 26 cents per share, which beat the Street estimate for losses of 30 cents, according to Benzinga Pro data. Quarterly revenue of $1.56 billion was in line with the analyst consensus estimate.

"We remain focused on capturing 10% of the global gaming market and an even greater share in the U.S. Q2 delivered year-over-year gains in users and hours, following last year’s incredible growth," said David Baszucki, founder and CEO of Roblox.

Roblox shares dipped 20.4% to $38.69 in pre-market trading.

These analysts made changes to their price targets on Roblox following earnings announcement.

  • Deutsche Bank analyst Benjamin Black downgraded the stock from Buy to Hold and lowered the price target from $56 to $38.
  • Needham analyst Bernie McTernan maintained the stock with a Buy and cut the price target from $60 to $50.
  • BTIG analyst Clark Lampen downgraded the stock from Neutral to Sell and announced a $30 price target..

Considering buying RBLX stock? Here’s what analysts think:

Photo via Shutterstock

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