This week, many people are undoubtedly asking questions about Roblox stock ( NYSE:RBLX ) with its recent rise. Let’s take a look at what drove the stock up, its long-term prospects, and whether it’s still a buy despite its recent surge.
Roblox Stock: Roblox’s User Base Continues to Grow.
Roblox released its September user metrics on Monday , revealing higher-than-expected growth in daily average users (DAUs) and engaged hours.
These metrics are critical for Roblox, which runs an online, metaverse-style gaming network. Because the company earns between $3.67 and $3.79 per active user, its user count indicates its upcoming revenue and earnings early.
Roblox stock ( NYSE:RBLX ) has long been labeled as a pandemic stock, but its September results call that hypothesis into question. Its user base is steadily growing. Meanwhile, bookings (sales of Roblox’s in-game currency that are not recorded as revenue until a user spends the currency) increased by 11% to 15% year over year in September , despite continuing negative foreign exchange effects from the strong dollar. Without these foreign exchange headwinds, the company estimates that bookings would have increased by 17% to 21%.
Overall, the September user metrics clearly showed that Roblox’s core business is still doing well.
Roblox Stock: Valuation Has Recovered Slightly, But Only Slightly.
So, Roblox’s business appears to be doing well, but is it too late to invest? Let’s look at Roblox stock ( NYSE:RBLX ) valuation to se...
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