Stifel analyst Drew Crum reiterated a Buy rating and $40 price target on Roblox following the company’s December DAU update. The analyst said he updated his model, increased 2022 estimates and made more modest adjustments to his 2023-2024 assumptions. Crum noted that, recapping December KPIs, all metrics represented monthly records for Roblox, were ahead of his figures, and he believes ahead of market expectations.
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