Roblox named Top Pick for first half of 2023 at BTIG

BTIG analyst Clark Lampen names Roblox (RBLX) as his BTIG Top Pick for first half of 2023, replacing AppLovin (APP) on that list. The company presents an attractive, long-term bookings and cash flow growth opportunity that could begin to take shape in the back half of 2023, with bookings growth also set to reaccelerate from a combination of improving payer conversion rates in the short term, the analyst tells investors in a research note. Lampen has a Buy rating and a $51 price target on the stock.