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Thursday, February 16, 2023 9:50:03 AM
By: Investing.com | February 16, 2023
Benchmark analysts upgraded Roblox (NYSE:RBLX) shares to Hold from Sell after the company reported better-than-expected Q4 results yesterday. As a result, Roblox surged 26.4% yesterday.
Three key factors behind the RBLX stock upgrade are encouraging KPIs, reemerging growth, and operational discipline.
“FY22 was a challenging year that disappointed expectations. For FY23, RBLX appears to have worked through the pandemic influence on their business and has been seemingly immune to current macro-economic pressure on consumer spend," analysts wrote in an upgrade note.
The analysts highlighted a stabilizing mobile game market while a positive commentary about January trends shows “continued platform momentum.”
“We are optimistic over RBLX’s decision to moderate investment spend that should deliver operating leverage within an improving operating environment,” the analysts concluded.
Roblox shares are down about 3% in pre-market Thursday.
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