Roblox reported Q3 bookings, adjusted EBITDA, average bookings per daily active user and daily active users generally in line or better than consensus, Citi analyst Jason Bazinet tells investors in a research note. The company’s Q3 revenue finished below the Street, partially driven by a $110M headwind related to a change in estimated paying user life, adds the analyst. However, he views the change as a positive for Roblox and it a “bit surprised” by the weakness in the shares this morning. Bazinet has a Buy rating on Roblox with a $55 price target. The stock in morning trading is down 10% to $35.03.
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