Roblox Corporation (NYSE:RBLX) shares are trading higher on Wednesday. Piper Sandler analyst Thomas Champion raised the price target to $54.00 from $48.00 while maintaining the Overweight rating.
The analyst surveyed ~13K teens across the U.S. during this fall and noted that teen active usage of Roblox rose to 46%, up from 34% and 31% in the previous two surveys, with improvements seen across all frequency levels.
Champion also writes that 17% of teens have never played Roblox, compared to 22% in the previous survey.
Additionally, 37% of teens previously played Roblox but no longer do, a reduction from 44% and 45% in ...
