In the latest trading session, Roblox (RBLX) closed at $135.87, marking a -1.01% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.13%. Meanwhile, the Dow lost 0.27%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Shares of the online gaming platform witnessed a gain of 14.42% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 1.44%, and the S&P 500's gain of 2.71%.
Market participants will be closely following the financial results of Roblox in its upcoming release. The company's upcoming EPS is projected at -$0.44, signifying a 18.92% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.63 billion, up 44.72% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$1.71 per share and a revenue of $5.98 billion, demonstrating changes of -18.75% and +36.98%, respectively, from the preceding year.
Any recent changes to analyst estimates for Roblox should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 0.18% lower. Roblox presently features 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 104, positioning it in the top 43% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Roblox Corporation (RBLX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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