Roblox Corp.(NYSE:RBLX) on Thursday posted a narrower-than-expected loss for the second quarter.
Roblox reported quarterly losses of 26 cents per share, which beat the Street estimate for losses of 30 cents Quarterly revenue of $1.56 billion was in line with the analyst consensus estimate
“We remain focused on capturing 10% of the global gaming market and an even greater share in the U.S. Q2 delivered year-over-year gains in users and hours, following last year’s incredible growth,” said David Baszucki, founder and CEO of Roblox.
Roblox shares dipped 20.4% to $38.69 in pre-market trading.
These analysts made changes to their price targets on Roblox following earnings announcement.
- Deutsche Bank analyst Benjamin Black downgraded the stock from Buy to Hold and lowered the price target from $56 to $38.
- Needham analyst Bernie McTernan maintained the stock with a Buy and cut the price target from $60 to $50.
- BTIG analyst Clark Lampen downgraded the stock from Neutral to Sell and announced a $30 price target..
Considering buying RBLX stock? Here’s what analysts think:
Market News and Data brought to you by Benzinga APIs
To add Benzinga News as your preferred
