Roblox (RBLX) closed at $84.02 in the latest trading session, marking a +1.53% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.2%.
Coming into today, shares of the online gaming platform had gained 9.53% in the past month. In that same time, the Consumer Discretionary sector lost 0.22%, while the S&P 500 gained 5.66%.
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Investors will be hoping for strength from RBLX as it approaches its next earnings release, which is expected to be November 8, 2021.
It is also important to note the recent changes to analyst estimates for RBLX. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.46% lower. RBLX is currently sporting a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RBLX in the coming trading sessions
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