Is Roblox Stock a Buy?
After initially sending shares lower, investors changed their minds and pushed Roblox (NYSE: RBLX) stock higher following its recent first-quarter earnings report. The online gaming platform provided support for both the bullish and bearish thesis on the stock, with good news on engagement offset by significant net losses.
But is the stock a buy right now? Let's take a closer look at those growth and financial trends, and what they might mean for this tech stock.
Roblox's engagement metrics demonstrate that its platform is popular for both creators and gamers. More than 66 million users were active in the first quarter, up 22% over the prior-year period. Roblox logged nearly 15 billion hours of engagement, also up more than 20%. "The momentum in our business demonstrates the success of our creator community," CEO David Baszucki said in a press release.
Source Fool.com
