Why Is Roblox Stock Trading Lower on Tuesday? - Roblox (NYSE:RBLX)

Roblox shares fell on Tuesday as investors took profits after a 12% rally on Monday. The jump was supported by Wall Street firms raising their price forecasts, alongside strength in the communications services sector. Early market moves showed Nasdaq futures down 0.06% and S&P 500 futures off 0.13%. Monday’s notes included BofA Securities’ Omar Dessouky keeping a Neutral rating while lifting his target to $48 from $44, and Wedbush’s Alicia Reese also staying Neutral with a $48 target, up from $40. Wells Fargo’s Ken Gawrelski raised to $64 from $46 with an Overweight view, while BTIG reiterated a Sell and lifted its target to $41.