Wells Fargo analyst Ken Gawrelski maintains $Roblox (RBLX.US)$ with a buy rating, and maintains the target price at $58.
According to TipRanks data, the analyst has a success rate of 64.7% and a total average return of 11.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Roblox (RBLX.US)$'s main analysts recently are as follows:
Roblox reported a Q3 performance that surpassed expectations and has increased its 2024 forecasts for all metrics. The outlook provided may tend to be on the conservative side, with discussions indicating that the company's bookings trends continue to be robust.
Roblox's key performance indicators are demonstrating acceleration, marked by record-high bookings, an increase in daily active users, and engagement hours. While safety concerns, which are prevalent across numerous social platforms, persist, they are addressable issues that management is actively tackling.
Roblox achieved a new peak in performance metrics according to a recent analysis. The availability of PlayStation 5 was a significant factor, contributing to the platform's success, with the console now representing 8% of total bookings and enhancing monetization efforts. It is anticipated that console bookings will surpass mobile bookings by 2025, owing to the console's lower penetration among Roblox developers and its ability to generate more revenue because of an older and wealthier player demographic.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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