Why These 5 Stocks Are Trending on Tuesday

3. Roblox Corporation (NYSE:RBLX) is down nearly 8.78% as of 1:40 PM ET after Atlantic Equities downgraded the stock from an Overweight to a Neutral rating. Analyst Kunal Malde also lowered the price target on Roblox Corporation (NYSE:RBLX) from $60 to $30. He shared that the Roblox Corporation (NYSE:RBLX) app’s download trend reflects weak user engagement. The analyst further stated that the “stock’s growth-consistent valuation looks relatively less attractive” in comparison to its competitors.

Roblox Corporation (NYSE:RBLX) was mentioned in the Q4 2021 investor letter of Tao Value. Here’s what the firm said:

Roblox (RBLX) got significant more attention from both institutional & retail investors after Facebook announced to rename itself as Meta Platforms. I believe the price appreciation is largely attributed to the increased attention. On business side, Roblox rolled out a few successful music events and also partnered with Netflix on testing long-form media consumption in virtual world. Apple in its iOS 14.5 rolled out an impactful change for digital advertising landscape by requiring all apps to ask users to “opt in”.

Roblox Corporation (NYSE:RBLX) was held by 40 hedge funds at the end of Q1 2022, down from 61 in the preceding quarter.