Raymond James downgraded Roblox (RBLX) to Outperform from Strong Buy with a price target of $130, up from $81. The success of “Grow A Garden” is a step-change event in the company’s growth trajectory, the analyst tells investors in a research note. While the firm has a positive bias on the stock’s trajectory going forward and still sees merit in the bull case, there is a very high bar for Q2, the firm says.
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