Roblox Sees 28% Surge in Daily Active Users for May


Entertainment products and services provider, Roblox Corporation (RBLX) released information on its key metrics for May 2021. Shares of the company are down 7.4% in early trading hours, with a 1% decline in daily active users (DAU) from last month.

Nevertheless, on a year-over-year basis, a DAU of 43 million increased 28% from May 2020. Also, hours engaged was 3.2 billion, up 9% year-over-year and 1% from the previous month.

Roblox expects bookings in May 2021 to yield between $216 million and $219 million, showing year-over-year growth of 24%-26%. Notably, revenues are expected to increase to $149-151 million, up 123%-126% year-over-year. (See Roblox’s stock chart on TipRanks)

On June 1, Truist Financial analyst Matthew Thornton maintained a Buy rating and raised the price target to $103 from $83. The new price target suggests 21.5% upside potential.

Thornton noted that the company’s Q2 bookings are expected to be about mid-single-digit percent above the consensus. Also, he said that investors are eyeing the company’s performance around China, as well as its platform extensions such as learning and entertainment.

Consensus among analysts is a Strong Buy based on 7 Buys. The average analyst Roblox price target is $87.33, indicating 2.98% downside.

TipRanks data shows that financial blogger opinions are 93% Bullish on RBLX, compared to a sector average of 69%.

Related News:
Corsair Gaming Enters Meme Stocks List; Shares Rise
Alibaba’s Shopping Website Falls Prey to Data Leak
Lazydays Holdings to Acquire Burlington RV Superstore; Shares Gain 3.9%

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts