Roblox (NYSE: RBLX) shares fell more than 8% on Monday. Analysts from Citi and Jefferies attributed the decline to weakening user engagement trends.
Data from third-party platform RoMonitor showed a 5% year-over-year drop in average peak concurrent users. This decline occurred during the week of June 15.
The engagement slump persisted despite the recent release of the game Grow a Garden 2. Analysts warned that user metrics are currently tracking toward the low end of the company's second-quarter bookings guidance.
These softer metrics fuel Wall Street concerns regarding near-term revenue and growth. The data adds further pressure following a previous guidance cut issued in April.