BUZZ-Roblox bounces after Google tie-up

Reuters
04-02
BUZZ-Roblox bounces after Google tie-up

** Roblox's RBLX.N shares up 4.8% at $61.08 and on track to break four-session losing streak on Tues after gaming platform announced partnership with Google GOOGL.O

** Co on Tues launched new video advertising format and tie-up with Alphabet's Google aims to help boost growth of its emerging ad business

** Amid stiff competition, RBLX has been seeking to expand its overall business with advertising

** At end-Dec, it had 85.3 mln Daily Active Users on its platform, down slightly from 88.9 mln in Q3, the majority of which being above the age of 13

** Of 33 analysts covering RBLX, recommendation breakdown is 19 "strong buy" or "buy", 11 "hold" and 3 "sell" ratings, per LSEG data

;** Median PT of $73 up from $63 on Feb 1 and from $59 three months ago

** With move on the session, stock up ~6% YTD and has gained roughly 60% over the past 12 months

** Shares of GOOGL up 1.5% on Tues

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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