Piper Sandler analyst Thomas Champion notes that Roblox (RBLX) announced the launch of rewarded video advertising in partnership with Google (GOOGL) so that brands and agencies will be able to purchase ads both directly and programmatically via Google. The firm, which thinks this is “a smart strategic move” that makes use of an ad format that drives high pricing in mobile gaming already, views this as “an important incremental positive” in the firm’s thesis given that it has always believed there existed an ads monetization opportunity at Roblox. Piper reiterates an Overweight rating and $73 price target on Roblox shares.
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