Jefferies upgraded Roblox shares to buy from hold, naming it as one of the fastest-growing internet companies.
It's "time to respect the community" around Roblox , according to Jefferies. The firm upgraded Roblox shares to buy from hold on Friday, saying it is now confident the company will be able to maintain strong growth despite strong competition and macro pressures. "We are upgrading RBLX on a favorable narrative supported by strong net bookings expansion and underlying user metrics.," analyst Andrew Uerkwitz wrote in a client note on Friday.
The analyst said that while he was previously concerned about the sustainability of Roblox's daily active users and its margins, a "narrative shift" has changed his outlook on the company's future — making it one of the best internet companies. "A review of our coverage, RBLX thesis, and model have changed our mind on the future of the platform.
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