Roblox ‘becoming more investable,’ says BofA

After having attended Roblox’s investor day, BofA said that compared to prior years this year’s was shorter, less focused on Roblox’s technologies and features, and more focused on commercial and financial implications with management staying focused on long-term bookings growth, cost leverage, AI, and 3D advertising. The firm, which says long-term growth and cost leverage targets came in above consensus, believes investors “now have a fairly clear long term roadmap against which to gauge execution” and sees the company “becoming more investable.” BofA maintains a Buy rating and $54 price target on Roblox shares.