Roblox Corp RBLX reported worse-than-expected second-quarter financial results.
Roblox reported second-quarter FY23 Bookings growth of 22% year-on-year to $780.7 million. The revenue grew by 15% Y/Y to $680.8 million, missing the consensus of $784.9 million. EPS loss of $(0.46) missed the consensus loss of $(0.45).
Roblox shares dipped 21.9% to close at $29.46 on Wednesday.
These analysts made changes to their price targets on Roblox following earnings announcement.
- Morgan Stanley raised the price target on Roblox from $26 to $30. Morgan Stanley analyst Matthew Cost upgraded the stock from Underweight to Equal-Weight.
- Needham slashed the price target on Roblox from $48 to $40. Needham analyst Bernie McTernan maintained a Buy rating on the stock.
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