TD Cowen no longer expecting Roblox miss in Q4

TD Cowen analyst Doug Creutz says Roblox (RBLX) saw a strong finish to the year following a “Dress to Impress” update in mid-December and better than expected rankings during the week of Christmas, adding that its analysis of concurrent users data from the RoMonitor Stats website suggests bookings of $1.36B, which would be at the high end of management’s guidance range. The firm, which now thinks the company will achieve Q4 guidance, with “a bit more probability of upside than downside,” keeps a Sell rating and $35 price target on Roblox shares.