Benchmark upgrades Roblox to Hold on reemerging growth

Benchmark upgraded Roblox to Hold from Sell without a price target. The company delivered better than expected Q4 financial results, with profit exceeding estimates, the analyst tells investors in a research note. The firm believes Roblox has worked through the pandemic influence on its business and has been "seemingly immune" to current macroeconomic pressure on consumer spend. A stabilizing mobile game market "could be a compelling developing trend," writes Benchmark. The firm cites "encouraging" key performance indicators, reemerging growth, and Roblox’s operational "discipline" for the upgrade to Hold.