Video Game Developer Roblox Launches IPO After Revenue Triples Since Pandemic

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Super Harley
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Stifel started coverage on Roblox (RBLX) at Buy with an $85 tgt (~18% upside);

The company has a recent history of impressive growth, with DAUs, hours engaged, and bookings increasing at CAGRs (2018-20) of +65%, +80%, and +94%, respectively.

To sustain this momentum, Roblox has a multi-faceted strategy to achieve a goal of “impacting” billions of users. And while firm considers such initiatives in their model (i.e, international reach and age demographic expansion), none are fully contemplated.