Roblox Corp RBLX shares are trading lower by 3.89% to $39.26 in Tuesday's pre-market session after Goldman Sachs downgraded the stock from Buy to Neutral and lowered its price target from $108 to $50.
Shares of several streaming, gaming and social media names, including Roblox, have seen marked weakness in 2022 and are trading lower on a year-to-date basis amid a rise in US Treasury yields as investors continue to weigh the Federal Reserve's rate hike outlook. Roblox is trading lower by 58.66% on a year-to-date basis and lower by 12.38% over the past month.
Goldman Sachs analyst Eric Sheridan also provided coverage of 10 companies across the interactive entertainment sector Tuesday... Read More
Roblox operates an online video game platform that lets young gamers create, develop and monetize games for other players.
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According to data from Benzinga Pro, Roblox has a 52-week high of $141.60 and a 52-week low of $36.04.
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