On Nov 01, major Wall Street analysts update their ratings for $Roblox (RBLX.US)$, with price targets ranging from $35 to $70.
J.P. Morgan analyst Cory Carpenter maintains with a buy rating, and adjusts the target price from $51 to $62.
BofA Securities analyst Omar Dessouky maintains with a buy rating, and adjusts the target price from $60 to $70.
Wells Fargo analyst Ken Gawrelski maintains with a buy rating, and adjusts the target price from $54 to $58.
TD Cowen analyst Doug Creutz maintains with a sell rating, and adjusts the target price from $29 to $35.
BMO Capital analyst Brian Pitz maintains with a buy rating, and adjusts the target price from $56 to $62.
Furthermore, according to the comprehensive report, the opinions of $Roblox (RBLX.US)$'s main analysts recently are as follows:
Roblox reported a third-quarter performance that exceeded expectations and increased its 2024 forecasts for all metrics. There is a belief that these projections may be on the conservative side, based on discussions indicating that booking trends continue to be robust.
The firm's assessment indicates that Roblox is experiencing an acceleration in key performance metrics, with record highs in bookings, daily active users, and engagement hours. Additionally, while safety issues are not uncommon in social applications, these challenges are deemed manageable, with the company actively working towards resolving them.
The latest financial evaluation reflects a more optimistic view on Roblox following a quarter that set new records. Analysts observed that improved PlayStation 5 availability was a significant factor, contributing to 8% of total bookings and enhancing monetization efforts. It is anticipated that the console segment will surpass mobile bookings by 2025, attributed to lower market saturation among Roblox developers and superior monetization stemming from an older and wealthier player demographic.
Roblox achieved an outstandingly robust third-quarter in terms of bookings, and the anticipation is now set on a strong holiday quarter along with the company's aim to introduce new revenue channels by 2025. Roblox continues to be regarded as one of the preferred long-term narratives.
The company's impressive bookings growth, which stood at 34% or 28% when excluding the console benefit, was a key highlight of the quarter. This growth acceleration is credited to several factors that are within the control of the company, such as enhancements in search and discovery, monetization optimization, improved app performance, and the hosting of live events.
Here are the latest investment ratings and price targets for $Roblox (RBLX.US)$ from 14 analysts:
Note:
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