Macquarie initiated coverage of Roblox with an Outperform rating and $46 price target. Roblox is a highly scaled gaming platform poised to deliver a double-digit revenue growth over the next three years, the analyst tells investors in a research note. The firm sees an attractive opportunity given the company’s “unique” business model, “strong growth tailwinds,” the tail end of its investment cycle and the recent pullback in the shares.
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