Shares of global entertainment platform Roblox (NYSE:RBLX) are in focus today after the company announced first-quarter numbers.
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Revenue rose 22.6% year-over-year to $655.3 million, but lagged estimates of $767 million. Net loss per share at $0.44 too came in wider than estimates by $0.09.
Bookings during the period increased by 23.5% over the prior year to $773.8 million. Further, while average daily active users rose by 22%, average bookings per daily active user remained relatively flat for the period.
Overall, the Street has a $44.36 consensus price target on RBLX pointing to a 22.6% potential upside in the stock. That’s after a 19.6% slide in the share price over the past month.
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