Read: 5 things to know about Roblox, the tween-centric gaming platform’s direct listingĪnd that isn’t very good news if you’re looking to make money off the “metaverse,” which Roblox succeeded at during the COVID-19 pandemic, but now could face more competition for young eyeballs. Jefferies analyst Andrew Uerkwitz pointed to the most important culprit for the pullback in a note: “Once stuck-inside kids and teens are now spending weekdays off their devices and out in the real world.” In response to the report, at least three analysts decreased their price targets, and one reduced his rating on the stock to hold. The move followed Tuesday’s report of a fourth-quarter loss of 25 cents a share and bookings of $770.1 million, a far cry from the previous report, when shares soared 42% the day after the company reported strong results despite a three-day outage around Halloween.
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