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Roblox (RBLX) Stock Moves -0.59%: What You Should Know

In the latest trading session, Roblox (RBLX) closed at $35.34, marking a -0.59% move from the previous day. This change was narrower than the S&P 500's 0.88% loss on the day. Elsewhere, the Dow saw an upswing of 0.56%, while the tech-heavy Nasdaq depreciated by 2.05%.

Shares of the online gaming platform have depreciated by 5.68% over the course of the past month, outperforming the Consumer Discretionary sector's loss of 5.74% and lagging the S&P 500's loss of 2.57%.

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. It is anticipated that the company will report an EPS of -$0.54, marking a 22.73% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $930.43 million, reflecting a 20.24% rise from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.10 per share and a revenue of $4.23 billion, representing changes of -12.3% and +20.08%, respectively, from the prior year.

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Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Roblox. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained unchanged. Roblox currently has a Zacks Rank of #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 198, positioning it in the bottom 22% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Roblox Corporation (RBLX) : Free Stock Analysis Report

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