Goldman Sachs analyst Eric Sheridan maintains $Roblox (RBLX.US)$ with a hold rating, and adjusts the target price from $45 to $55.
According to TipRanks data, the analyst has a success rate of 55.4% and a total average return of 13.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Roblox (RBLX.US)$'s main analysts recently are as follows:
Roblox reported a third-quarter performance that surpassed expectations and increased its 2024 forecasts across the board. The expectation is that these projections may be on the lower side, given discussions indicating that booking trends are continuing to be robust.
Roblox's key performance metrics are showing signs of acceleration, with bookings, daily active users, and engagement hours reaching all-time highs. While safety concerns are not unique to the platform and exist across many social applications, they are considered addressable issues that the management is actively working to resolve.
Roblox's recent financial results showcased record-setting metrics. The increase in PlayStation 5 availability significantly contributed to this success, with the console now accounting for 8% of total bookings and aiding in improved monetization. It is anticipated that console bookings will surpass mobile bookings by 2025, given the console's lower penetration among Roblox developers and its ability to monetize more effectively, thanks to an older and more affluent player demographic.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
