![]() Its revenue that does not include those items increased 15% year over year to $680.80 million.įurther, the number of average daily active users totaled 65.5 million, up 25%, while average monthly unique payers increased 19% to 13.5 million and hours engaged rose 24% to 14 billion. Bookings, which is the company's revenue that includes sales recognized during the quarter and deferred revenue, grew 22% from to prior-year quarter to $781 million, but fell short of expectations of $785 million. Highlights from the second-quarter 2023 financial resultsįor the three months ended June 30, Roblox posted a loss of 46 cents per share, which was worse than the loss of 45 cents analysts were anticipating. With a disappointing earnings report that failed to meet expectations, I believe there are strong reasons to question these upgrades. McKay said the company "may have the most compelling growth trajectory among the video game names in our coverage universe." He kept the price target at $37, which represents 20% upside potential from the closing price on Thursday. The second upgrade came from Wedbush analyst Nick McKay, who upgraded the stock to outperform from neutral. Morgan Stanley considers the company's second-quarter results mixed, but argued that shares now fairly reflect the near-term headwinds from bookings deceleration. ![]() Roblox: Question Its Recent Stock Upgradesįollowing the earnings release, Morgan Stanley upgraded Roblox to equal weight from underweight with a price target of $30, an increase from $26 previously.
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