JPMorgan analyst Cory Carpenter raised the firm’s price target on Roblox (RBLX) to $125 from $120 and keeps an Overweight rating on the shares. The firm says Roblox platform engagement continues to inflect higher. Platform concurrent users reached a record 32M and Grow A Garden users reached a record 21.5M on Saturday, the analyst tells investors in a research note. JPMorgan now expects bookings growth of 37% in Q2 for Roblox and 30% in fiscal 2025, well above the company’s guidance. It again raised estimates for Roblox.
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