JPMorgan Downgrades Roblox Corp. (RBLX) to Neutral

JPMorgan analyst Cory Carpenter downgraded Roblox Corp. (NYSE: RBLX) from Overweight to Neutral with a price target of $100.00 (from $145.00).

The analyst comments: "RBLX engagement inflected higher in 2025, with viral hits such as Grow a Garden and Steal a Brainrot reaching unprecedented scale and driving bookings growth far above the company’s 20% annual target. We remain positive on RBLX’s longer-term positioning in the video game ecosystem, but we think shares could take a breather in 2026 given 1) engagement headwinds; 2) bookings growth slowing; 3) margins compressing. Platform engagement remains healthy, but as we’ve flagged in our last few weekly trackers, engagement trends have started to moderate with most viral experiences past their peaks. We expect an engagement headwind from the facial age estimation rollout in January, and we estimate the Russia ban could impact up to 10M DAUs (top 5 market). We still expect RBLX to deliver 20% bookings growth next year (despite management not committing to it last quarter), but we don’t see much upside unless new viral hits emerge or advertising ramps, which we’re not counting on."

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 $94.34 yesterday.

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