Roblox Corp on Wednesday became the latest U.S. company to report a hit from a stronger dollar, saying its bookings fell up to 11% last month despite a jump in daily active users.

Roblox shares rocketed up by more than 21% Wednesday as investors reacted positively to the online gaming platform company's better-than-expected fourth-quarter bookings.

Roblox stock soared 10% on Thursday after the company reported second-quarter revenue that beat expectations amid strong user growth.

Raymond James analyst Andy Marck downgraded Roblox from a Strong Buy rating to an Outperform rating and raised the price target from $81 to $130.

Roblox (RBLX) shares slipped around 1% in premarket trading on Thursday even as investment firm Benchmark upgraded the online gaming company.

S&P assigned a positive outlook to Roblox, reflecting expectations of continued strong user growth, engagement, and increasing monetization.

User and engagement numbers were also strong for gaming platform Roblox, with daily active users up 41% year over year, and hours engaged up 58%.