Roblox (RBLX) Surpasses Market Returns: Some Facts Worth Knowing
Roblox (RBLX) ended the recent trading session at $40.78, demonstrating a +0.74% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.29%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.43%.
Shares of the online gaming platform have depreciated by 11.94% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 0.69% and the S&P 500's gain of 2.08%.
The investment community will be paying close attention to the earnings performance of Roblox in its upcoming release. The company is slated to reveal its earnings on February 7, 2024. The company's upcoming EPS is projected at -$0.57, signifying a 18.75% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.08 billion, indicating a 19.6% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Roblox. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Roblox currently has a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 103, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Roblox Corporation (RBLX) : Free Stock Analysis Report
