Shares of Roblox (NYSE:RBLX) are skyrocketing today after the company released its December key metrics. The metaverse platform saw its daily active users grow by 18% on a year-over-year basis, reaching 61.5 million. More impressively, hours engaged jumped by 21%, while estimated bookings grew between 17% to 20% per year (20% to 22% on a constant currency basis).
However, Roblox’s revenue is estimated to have declined between -1% to -6% (0% to -5% constant currency), and average bookings per daily active user remained relatively flat between -1% and 1% (1% to 3% constant currency). Starting in April, the company will no longer be releasing monthly metrics and will instead release them quarterly.
Overall, Wall Street analysts have a consensus price target of $37.50 on RBLX stock, implying 0.13% upside potential, as indicated by the graphic above.
