Roblox Corp (NYSE: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.
