Global gaming services provider Roblox (NYSE:RBLX) has announced key business metrics for the month gone by.
In February, the company had 67.3 million daily active users (DAUs) and estimated average bookings per daily active user (ABPDAU) ranged between $3.61 and $3.67. While this was a 22% growth in DAUs, a drop between 2% to 4% is implied in ABPDAU.
Further, the company estimates revenue during the month ranged between $214 million and $217 million. Roblox is doing away with monthly metrics updates from April 2023 and will only announce them on a quarterly basis.
Additionally, the company noted that about 5% of its $3 billion cash pile was held at SVB Financial and the current situation is not expected to impact its day-to-day operations. The company has already moved its cash and securities on deposit from SVB to another financial institution earlier this week.
Overall, Wall Street has a consensus price target of $43.56 on RBLX, implying shares may be fairly priced at current levels. That’s after a 55% surge in the share price so far this year already.
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