$RBLX Stock: Will The Bullish Start of $RBLX Stock Stay Long?

• The $RBLX stock noted around 29% of increase in its year-to-date price.
• This bullish trend seems a good year start for this U.S. gaming stock. 

Roblox Corp. (NYSE:RBLX) is an American video game developer headquartered in San Mateo, CA. It is well-known for its online gaming services. Roblox consists of Roblox Client —an application, Roblox Studio —the toolset, and Roblox Cloud —the services and infrastructure that power the human co-experience platforms.

$RBLX Stock Price Analysis

According to the data sourced from Tradingview, $RBLX yesterday opened at $38.46 and closed at $37.51, with around 2.5% of decline in its price. The gaming stock gave its one-day high at $39.63. While its year-to-date high was noted at $41.58 earlier this month. Its one month price analysis states the $RBLX is up by almost 27% in one month and 1.16% in recent one-week.

According to Yahoo Finance, in the past month the shares of the online gaming platform increased by 26.71%. Additionally the Wall Street also seemed bullish for $RBLX as its next earnings report is almost here. The expected date of Roblox’s earning report is February 15th, 2023. While Roblox is projected to report earnings of -$0.55 per share, which would mean it represents a year-over-year decrease of 120%.

However, for Roblox the investors can expect any recent changes to analyst estimates. Additionally it would reflect the latest short-term business trends, that can for sure change frequently. The positive estimate revisions reflect analyst confidence for the company’s business and profitability.

It can be noted that the gaming industry is a part of the Consumer Discretionary sector, which also gained 8.45% in the past month.

As per the Tradingview price target for $RBLX, the 24 analysts offering one year price forecasts for Roblox have a max estimate of 54 and a min estimate of 14.00. However the technical analysis summary for Roblox Corp. is indicating buy.

The financial summary of Roblox Corporation states that its current market cap is $23.234 Billion. The total revenue of $RBLX for the last quarter is $517.71 million, and it’s 12.43% lower compared to the last quarter. The net income of Q3 22 is -$297.80 Million.

In addition, the $RBLX earnings for the previous quarter are -$0.50 whereas the estimation was -$0.32 which accounts for -56.95% surprise. Roblox Corp. revenue for the same period amounts to $701.72 Million despite the estimated figure of $694.84 Million. The estimated earnings for the next quarter are -$0.51, and revenue is expected to reach $872.59 Million.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading stocks comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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