Roblox November bookings below consensus, says Truist

Truist analyst Matthew Thornton believes Roblox’s November bookings were at least slightly below the implied sell-side consensus. The company’s user growth and engagement growth were both at the lower end of the recent range, Thornton tells investors in a research note. Looking forward, the analyst notes that Roblox’s compares generally ease over the next several months for users, engagement and monetization. December is typically the largest month of the year by far for Roblox bookings, Thornton adds. He keeps a Hold rating on the stock with a $37 price target. The stock in morning trading is down 14% to $28.52.