BMO Capital raised the firm’s price target on Roblox (RBLX) to $95 from $82 and keeps an Outperform rating on the shares. The firm says Sensor Tower mobile data indicates accelerating Q2 quarter-to-date Roblox daily active user growth, suggesting upside to guidance and consensus estimates. The analyst believes “Grow a Garden, a new hit game,” is driving the strong quarter-to-date trends. The game has broken multiple engagement records since its launch on March 25, the analyst tells investors in a research note. As a result, BMO increased its Q2 bookings forecast by 2.9% to $1.216B.
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