BMO Capital raised the firm’s price target on Roblox (RBLX) to $82 from $75 and keeps an Outperform rating on the shares. The company delivered strong Q1 results with Bookings growth and EBITDA margins topping estimates, the analyst tells investors in a research note. The quarter’s upside was driven by strong engagement as daily active users growth of 26% YoY to 98M, differential Robux pricing, price optimizations, and regional pricing help improve existing playtime monetization, BMO added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RBLX:
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue