Needham reiterated a Buy rating and $60 price target on Roblox stock.
Third-party data shows platform concurrent users grew week-over-week this past weekend. This marks a positive development after a 30-week broad decline.
The strength was driven by improved user growth from top games and four recently scaling games, including three created this year.
Needham noted that while one data point doesn't make a trend, this is potentially an important step. Negative investor sentiment has been driven by declining concurrent users and recent estimate resets. The stock trades at $47.16, down 47% YTD and 58% over six months, yet analysts see 49% upside.
Bond.az highlights that analysts anticipate sales growth in the current year, with revenue expanding 38% over the last twelve months.
The firm maintained its Buy rating and $60 price target, representing approximately 27% upside from current levels.
