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Roblox (RBLX) Gains As Market Dips: What You Should Know
In the latest trading session, Roblox (RBLX - Free Report) closed at $77.56, marking a +0.36% move from the previous day. This change outpaced the S&P 500's 0.75% loss on the day.
Coming into today, shares of the online gaming platform had lost 6.87% in the past month. In that same time, the Consumer Discretionary sector lost 1.66%, while the S&P 500 gained 2.74%.
RBLX will be looking to display strength as it nears its next earnings release.
It is also important to note the recent changes to analyst estimates for RBLX. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 15.28% higher within the past month. RBLX is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, RBLX is currently trading at a Forward P/E ratio of 93.11. This valuation marks a premium compared to its industry's average Forward P/E of 25.89.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 114, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RBLX in the coming trading sessions, be sure to utilize Zacks.com.