Roblox price target raised to $105 from $85 at Piper Sandler

Piper Sandler raised the firm’s price target on Roblox (RBLX) to $105 from $85 and keeps an Overweight rating on the shares. The firm says the company is getting better at surfacing and promoting content, which gives it more confidence in the long-term platform opportunity. Viral hit Grow a Garden is at a record-setting usage pace. Monthly visitor data is constructive and points to material upside to Q2 DAUs. Piper suspects more hit games to come.