BofA raised the firm’s price target on Roblox (RBLX) to $171 from $159 and keeps a Buy rating on the shares. Roblox plans a full roll out server authority by year-end, which is “a major development” as it means that competitive gameplay will more closely resemble industry standard competitive shooters such as Call of Duty, the analyst tells investors in a recap after the “many announcements” made at RDC on September 6. The firm, which felt Roblox announced “an excellent balance of features aimed at both supply side productivity and demand-side TAM expansion,” says its valuation reflects increased confidence in the company’s long term growth trajectory.
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