By Liz Moyer

Roblox Corp (NYSE:) shares fell 10% Tuesday after Atlantic Equities analyst Kunaal Malde cut the rating to Neutral from Overweight.

Malde reduced the price target to $30 by cutting it in half.

According to the analyst, there are concerns regarding app download trends. He also pointed out that growth in users has stagnated. Time spent in Canada and U.S. showed slower growth than those in other markets. The number of U.S. users under 9 years of age is close to 5%.

“Management believes there is room for engagement growth even among its core young US demographic, but recent app download trends look to be weakening and additional softness in the US could further impact the shares in the near-term,” Malde wrote.

Malde explained that Roblox is trying appeal to children 9-12 years old to get their numbers up to pre-pandemic levels.

Roblox shares fell nearly 74% last year.