Roblox Shows Modest Engagement Uptick Trends, Wedbush Says

MT Newswires Live10-16 23:33

Roblox's (RBLX) engagement trends showed a modest uptick, although year-over-year declines in concurrent users widened due to tougher comparisons, Wedbush said in a note Friday.

According to the report, weekly users fell 18% year-over-year from a 14% drop last week, while proxy daily active user growth remained down 14% for a third straight week.

The note said last week's drop was flattered by a soft year-ago week, and this week's drop is in line with the run rate since early September. It said both metrics ticked up in absolute terms.

The report said weekly concurrent users grew to 15.2 million from 14.8 million, while the daily active user proxy edged up to 44.6 million, ending a three-week slide.

"That indicates a modest bounce off a low base, not an inflection," the report said. Wedbush kept its neutral rating with a price target of $48.

Price: 50.26, Change: -0.87, Percent Change: -1.70

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment