Canaccord analyst Jason Tilchen lowered the firm’s price target on Roblox (RBLX) to $140 from $160 and keeps a Buy rating on the shares. The firm noted digital gambling stocks sold off as investors grew concerned about state reports of decelerating handle trends in December that worsened in January. Canaccord noted Roblox shares have been cut in half due to concerns over the near-term impact of new safety features & infrastructure investments on engagement & margins, respectively, but they see the magnitude of the sell-off as an overreaction amid strong underlying operating momentum.
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