TD Cowen analyst Doug Creutz continues to believe Roblox (RBLX) is pacing to miss Q4 bookings guidance following the firm’s mobile gaming monthly analysis, which is focused on app-store based channel checks. Electronic Arts’ (EA) mobile bookings are pacing up quarter-over-quarter while Playtika (PLTK) is pacing flat and Take-Two (TTWO) is running slightly down, the analyst tells investors in a research note. TD’s Q4 Roblox bookings projection of $1.29B, up 14% quarter-over-quarter, is below the consensus estimate of $1.36B and the company’s guidance of $1.34B-$1.36B. Following a seasonal Thanksgiving bump, Roblox’s top grossing rankings have returned to a downward trajectory, and are now hitting many-year lows, contends TD. It continues to view Roblox’s Q4 performance, as well as the run-rate entering 2025, as a “significant source of risk” for the shares at “currently elevated levels.” TD has a Sell rating on the shares with a $35 price target.
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