Roblox: Don't Chase
Update - Feb. 15
More good bookings numbers from $RBLX.
-Roblox (NYSE:RBLX) shares rocketed up by almost 16% in pre-market trading Wednesday as investors reacted positively to the online gaming platform company's better-than-expected fourth-quarter bookings.
-Prior to the start of trading, Roblox (RBLX) said that bookings for the quarter that ended December 31 totaled $899.4M, an increase of 17% from the year-ago quarter. The company's bookings also surpassed analysts' consensus forecasts of $881.4M.
-Along with its fourth-quarter results, Roblox (RBLX) said the for January, it estimates bookings will end up between $267M and $271M, which would be an increase of 19% to 21% from a year ago, and revenue will be in a range of $213M to $216M. The company added that it had 65M DAUs in January, a 19% increase from January 2022.
Original article posted on Jan. 18
- Roblox Corporation reported strong December monthly metrics, with bookings growing at up to 20% in the strong holiday month.
- The global gaming company has now forecast Q4 2022 bookings hitting a record of $892 million.
- Roblox Corporation stock is now fairly priced after a strong rally, pushing the forward P/S multiple to 7x.