Truist analyst Matthew Thornton upgraded Roblox to Buy from Hold with a price target of $37, up from $35. The analyst sees a path to 20% upside to consensus 2025 adjusted EBITDA estimates, driven by the core business plus immersive advertising, new platforms and the company’s transition away from engagement-based developer subsidies. The firm believes Roblox’s upcoming investor day is an opportunity to “shine a light on some of these and their financial ramifications.”
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