Wolfe Research last night upgraded Roblox to Peer Perform from Underperform without a price target. The company provided more color on its long-term financial framework and more details on its advertising opportunity at its investor day, the analyst tells investors in a research note. The firm now has increased confidence in Roblox’s “durable” bookings growth and margin expansion. Wolfe says its concerns are eased post the investor day, as next quarter management will begin providing quarterly and annual guidance which will keep investor expectations for key metrics in check.
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Read More on RBLX:
- Wolfe Research Analyst Upgrades Roblox (NYSE:RBLX), Cites Robust Bookings
- Roblox upgraded to Peer Perform from Underperform at Wolfe Research
- Morgan Stanley says Roblox long-term bookings guidance ‘surprised to the upside’
- Roblox price target raised to $50 from $48 at Canaccord
- Roblox ‘becoming more investable,’ says BofA