Roblox Corporation Climbs to Annual-High Share Price

Shares of Roblox Corporation RBLX traded today at $138.77, eclipsing its 12-month high. This new high was reached on approximately average trading volume as 16.3 million shares traded hands, while the average 30-day volume is approximately 15.7 million shares.

Over the past year, Roblox Corporation has traded in a range of $60.50 to $138.77 and is now at $135.13, 123% above that low.

Roblox Corporation is currently priced 53.7% above its average consensus analyst price target of $62.59.

Roblox operates an online video game platform that lets young gamers create, develop, and monetize games (or “experiences”) for other players. The firm effectively offers its developers a hybrid of a game engine, publishing platform, online hosting and services, marketplace with payment processing, and social network. The platform is a closed garden that Roblox controls, earning revenue in multiple places while benefiting from outsourced game development. Unlike traditional video game publishers, Roblox is more focused on the creation of new tools and monetization techniques for its developers than creating new games or franchises. Roblox is increasingly focused on creating a “metaverse” that moves beyond games toward experiences like concerts, education, and even business management.

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