Roblox Stock Pops After Daiwa Starts Coverage at Outperform By Investing.com


© Reuters Roblox (RBLX) Stock Pops After Daiwa Starts Coverage at Outperform

Daiwa Capital Markets analyst Jonathan Kees initiated research coverage on Roblox at Outperform with a $56.00 per share price target.

Roblox is seen as a category leader in mobile gaming.

“RBLX has a lock on hard-to-reach users under age 13 and differentiators including ~11M developers and speed and ease of use. Our concerns include the aging out of its user group, lower monetization as the company expands internationally and with older users, and higher opex costs ahead,” the analyst said in a client note.

Kees also started research coverage on Unity Software (NYSE:) at Outperform with a $110.00 per share price target.

“Our view may be early on these two names but we would rather be early than late. We believe the risk/reward has become favorable for each. While still expensive compared to peers, both are trading below their historical average and near 52-week lows. We believe that the peer premiums are justified due to market leadership. 2H22 should provide more clarity on both’s user expansion and reaching profitability, which we believe is nearer than investors expect,” the analyst added.

Roblox (NYSE:) stock price is up 2.5% today.

By Senad Karaahmetovic

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