Morgan Stanley Reiterates Underweight Rating on Roblox Corp. (RBLX)

Morgan Stanley analyst Matthew Cost reiterated an Underweight rating and $26.00 price target on Roblox Corp. (NYSE: RBLX) after in-line February key metrics.

"We maintain our PT of $26, based on a target EV/'24 Sales multiple of 4x, which represents a significant premium to a regression of RBLX's peer's. We continue to believe a premium is justified by RBLX's call options around TAM expansion and upside to monetization/payer conversion, immersive ads, e-commerce etc. That said, we also believe the 1H:23 acceleration and call options are more than fully priced at current trading levels."

For an analyst ratings summary and ratings history on Roblox Corp. click here. For more ratings news on Roblox Corp. click here.

Shares of Roblox Corp. closed at $42.72 yesterday.

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