Roblox Corp (NYSE:RBLX) is trading lower Friday on continued weakness following the company's weak financial results earlier this week.
Roblox reported fourth-quarter revenue of $568.8 million, which was up 82% from the fourth quarter of 2020, but still came in below consensus estimates. The social gaming company reported a quarterly earnings loss of 25 cents per share, which missed the estimate for a loss of 14 cents per share.
Following Roblox's quarterly results, several analysts lowered price targets on the stock:
- Needham analyst Bernie McTernan maintained Roblox with a Buy rating and lowered the price target from $136 to $83.
- BTIG analyst Clark Lampen maintained Roblox with a Buy rating and lowered the price target from $133 to $99.
- Goldman Sachs analyst Michael Ng maintained Roblox with a Buy rating and lowered the price target from $124 to $108.
- Stifel analyst Drew Crum maintained Roblox with a Buy rating and lowered the price target from $110 to $90.
- Truist Securities analyst Matthew Thornton maintained Roblox with a Buy rating and lowered the price target from $92 to $70.
See Also: Why Alibaba, Baidu And Pinduoduo Shares Are Falling Today
RBLX Price Action: Roblox has traded as high as $141.59 over a 52-week period, but it's making new 52-week lows Friday.
The stock was down 9.19% at $49.52 at publication time.
Photo: courtesy of Roblox.
