Morgan Stanley keeps an Underweight rating and $26 price target on Roblox, saying the company’s February results were in line with expectations on both bookings and daily active users while engagement was slightly below. The firm maintains a cautious outlook on the remainder of 2023 and sees near term upside more than fully priced at current share levels. Roblox’s current reacceleration will give way to a deceleration in the second half of the year as compares toughen considerably beginning in June, the analyst tells investors in a research note.
Published first on TheFly
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