Roblox Corp. (RBLX) PT Raised at Piper Sandler as 'Viral Hits Continue'

Piper Sandler analyst Thomas Champion raised the price target on Roblox Corp. (NYSE: RBLX) to $180.00 (from $175.00) while maintaining an Overweight rating.

The analyst commented: "Viral Hits Continue; RBLX continues to get better at surfacing and promoting content, which gives us more confidence in the LT platform opportunity. On a visits per day basis, viral hit Grow a Garden has now been surpassed by Steal a Brainrot as the #1 experience of all time. Top 10 visitor data in August accelerated again to +260% y/y. PSC DAU regression points to strong results vs Street, and we are raising 3Q / 4Q estimates. The note lays out a bull case scenario for bookings to accelerate to +59% y/y in 3Q. We expect more hit games to come. Raise PT to $180, reiterate OW."

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