Roblox stock target raised to $82 at BMO Capital

Published 01/05/2025, 21:52
© Riccardo Milani / Hans Lucas via Reuters Connect

On Thursday, BMO Capital Markets updated its financial outlook on Roblox Corporation (NYSE:RBLX), increasing the price target from $75.00 to $82.00 while maintaining an Outperform rating on the stock. The revision follows Roblox’s first-quarter results for 2025, which surpassed market expectations, particularly in terms of bookings and adjusted EBITDA. According to InvestingPro data, the stock has gained over 30% in the past six months, though current analysis suggests the stock may be slightly overvalued at its current market capitalization of $46.85 billion.

Roblox’s Q1 performance was notably strong, with bookings and adjusted EBITDA exceeding consensus estimates by 6% and 30%, respectively. This has led to an upward revision of the full-year 2025 guidance, now approximately 1% and 1.5% above the midpoint of market consensus for bookings and adjusted EBITDA. The company’s revenue growth trajectory remains impressive, with InvestingPro forecasting 46% revenue growth for fiscal year 2025.

The company’s daily active users (DAUs) saw a significant year-over-year increase of 26%, reaching around 98 million. This growth in engagement has been attributed to strategic initiatives such as Differential Robux Pricing, Price Optimizations, and Regional Pricing, which have enhanced monetization from existing playtime.

BMO Capital’s analyst reiterated the Outperform rating for Roblox, citing the company’s early stage in platform expansion and the presence of multiple levers to drive monetization in the future, including potential advertising opportunities. The analyst’s positive outlook reflects confidence in Roblox’s continued growth and ability to capitalize on its user engagement.

In other recent news, Roblox Corporation reported its first-quarter 2025 financial results, surpassing revenue expectations with $1.21 billion, compared to the anticipated $1.14 billion. The company also reported a bookings growth of 31% year-over-year, exceeding management’s guidance and aligning with investor expectations. Analyst firms such as JPMorgan, BTIG, and Benchmark have responded positively to these results. JPMorgan raised Roblox’s stock price target to $80, maintaining an Overweight rating, while BTIG and Benchmark both reiterated Buy ratings with price targets of $73 and $77, respectively.

The company’s performance was driven by an increase in Daily Active Users and improved monetization rates. Notably, there was a demographic shift towards older users who have a higher spending capacity, contributing to the growth. Roblox’s strategic initiatives, including AI-driven content discovery and immersive advertising, are seen as enhancing monetization efficiency. Analysts from BTIG have indicated potential upside in daily active users and monetization, suggesting possible upward revisions in full-year estimates.

Roblox’s advertising efforts, although described as underwhelming due to ongoing integration with Google (NASDAQ:GOOGL), are expected to be a source of growth in the latter half of the year. The company is also focusing on expanding its game genres and developer ecosystem, which has shown promising results. Despite macroeconomic uncertainties, analysts express confidence in Roblox’s growth trajectory and the effectiveness of its strategic measures.

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