Canaccord raised the firm’s price target on Roblox (RBLX) to $80 from $60 and keeps a Buy rating on the shares. The firm previewed its Q4 results saying the ongoing introduction of new tools for creators and developers to better monetize their work has led to higher quality content on Roblox, and this is expected to contribute to another quarter of strong engagement and bookings growth, with management set to introduce standalone advertising revenue guidance for the first time given the growing importance of ads on the platform.
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