Jefferies analyst Andrew Uerkwitz upgraded Roblox to Buy from Hold with a price target of $48, up from $30. The analyst sees a "favorable narrative " amid the company’s sales growth with margin inflection and an advertising option, supported by strong net bookings expansion and underlying user metrics. With regular rollouts of new user and creator features, the firm is "comfortable" that Roblox will grow through near-term competitor and macro pressures. It expects the company to remain among the fastest growing internet companies earning multiple expansion, higher estimates, and investor interest.
Published first on TheFly
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