Roblox December metrics improving from November, says Piper Sandler

Piper Sandler analyst Thomas Champion keeps his Overweight rating and $50 price target on Roblox after the company released its December metrics. Daily Active Users and Bookings were about 1% below estimates and hours were in-line, though the stock finished the day up 12% as sentiment was likely "more negative", the analyst tells investors in a research note. Champion adds that he continues to see a long-term opportunity in the stock, driven by user growth, monetization upside to peers, and advertising as a catalyst in 2023.