On Nov 05, major Wall Street analysts update their ratings for $Roblox (RBLX.US)$, with price targets ranging from $56 to $65.
Morgan Stanley analyst Matthew Cost upgrades to a buy rating, and adjusts the target price from $35 to $65.
Citi analyst Jason Bazinet maintains with a buy rating, and adjusts the target price from $53 to $63.
Deutsche Bank analyst Benjamin Black CFA maintains with a buy rating, and adjusts the target price from $45 to $60.
BTIG analyst Clark Lampen maintains with a buy rating, and maintains the target price at $56.
Furthermore, according to the comprehensive report, the opinions of $Roblox (RBLX.US)$'s main analysts recently are as follows:
Following Roblox's third-quarter report, observations indicate that the company's bookings, average bookings per daily active user, and daily active user metrics have surpassed consensus forecasts.
The company's bookings are reported to be 'back on track,' indicating a positive outlook on the company's financial trajectory.
The company is demonstrating that its user-generated content platform is capable of driving increased market share as it expands to reach a wider and more varied audience across additional platforms. Analysts believe the company's micro milestones are indicative of its strong execution capabilities and potential to surpass expectations. The success in engaging a broader audience and scaling across new platforms implies that the company's growth prospects are expanding.
Roblox experienced a third-quarter performance that surpassed expectations and has improved its forecast for 2024 across various metrics. The anticipation is that the company's projections may be on the cautious side, considering discussions indicating that booking trends continue to be robust.
Roblox's key performance metrics are showing acceleration, with record-high bookings, daily active users, and engagement hours noted. Issues regarding safety, which are not unique to the platform but are prevalent across various social applications, are being addressed by the management and are considered resolvable.
Here are the latest investment ratings and price targets for $Roblox (RBLX.US)$ from 4 analysts:
Note:
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