Wedbush analyst Michael Pachter raised the firm’s price target on Roblox (RBLX) to $142 from $110 and keeps an Outperform rating on the shares. The firm views Roblox as the most compelling growth opportunity in the video game sector, given its recent hit games driving massive platform growth, its slate of new and upcoming products, and the potential to unlock additional profit drivers within its business. Wedbush expects a record-breaking Q2 driven by record-breaking user numbers and improving monetization efforts. While Roblox’s effectiveness in monetizing that user base remains to be seen, the firm thinks there is upside to Street expectations.
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