Oppenheimer Reiterates Outperform Rating on Roblox Corp. (RBLX)

Oppenheimer analyst Martin Yang reiterated an Outperform rating and $158.00 price target on Roblox Corp. (NYSE: RBLX).

The analyst commented: "We attended Roblox Developers Conference (RDC) last week in San Jose, CAl. We met with company management, developers, studio investors, creative agencies, and marketing solution providers in the Roblox ecosystem. We came away incrementally positive on RBLX's long-term growth opportunity in interactive entertainment and advertising (both brand and programmatic). We believe RBLX is well positioned to leverage new technology and product innovation to take share in the video game market and to build a sizable advertising business longer term. Near-term, we see incremental concentration risk and immaterial advertising revenue contribution to bookings growth. Reiterate Outperform."

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 $127.69 yesterday.

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