Global gaming services provider Roblox (NYSE:RBLX) has announced key business metrics for the month gone by.
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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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