Yahoo Finance Roblox (RBLX) Gains As Market Dips: What You Should Know
Roblox (RBLX) closed the most recent trading day at $35.70, moving +0.31% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.44%.
Prior to today's trading, shares of the online gaming platform had gained 35.17% over the past month. This has outpaced the Consumer Discretionary sector's gain of 13.51% and the S&P 500's gain of 4.57% in that time.
Wall Street will be looking for positivity from Roblox as it approaches its next earnings report date. This is expected to be February 15, 2023. On that day, Roblox is projected to report earnings of -$0.56 per share, which would represent a year-over-year decline of 124%. Our most recent consensus estimate is calling for quarterly revenue of $885.95 million, up 15.04% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Roblox. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.3% lower. 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 102, which puts it in the top 41% 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 Corporation (RBLX) : Free Stock Analysis Report
