MoffettNathanson analyst Clay Griffin upgraded Roblox (RBLX) to Neutral from Sell. While the firm still struggles to “make sense of the valuation,” it notes that user metrics have “exploded higher” and that the inflection has been driven by new, viral experiences. Roblox is “playing a different game” and competition is few and far between for experiences that lean into quick, socially driven, and “viral” interactive experiences, the analyst tells investors.
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