{"id":60129,"date":"2023-09-12T15:54:54","date_gmt":"2023-09-12T19:54:54","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/morgan-stanley-attends-roblox-developer-conference-remains-equal-weight\/"},"modified":"2023-09-12T15:54:57","modified_gmt":"2023-09-12T19:54:57","slug":"morgan-stanley-attends-roblox-developer-conference-remains-equal-weight","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60129","title":{"rendered":"Morgan Stanley attends Roblox developer conference; remains Equal-Weight"},"content":{"rendered":"
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\u00a9 Reuters Morgan Stanley attends Roblox (RBLX) developer conference; remains Equal-Weight<\/span>
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Morgan Stanley reiterated an Equal-Weight rating on Roblox Corporation (NYSE:) with a 12-month price target of $30.00 on the stock after the American video game developer hosted its annual developer’s conference in San Francisco on Friday.<\/p>\n

\u201cWe viewed the event as more evolutionary than revolutionary.\u201d Morgan Stanley analysts wrote in a note.<\/p>\n

During the conference, management highlighted growth in user and engagement metrics, before proceeding to unveil upcoming product features, capabilities, and tools that developers can anticipate within the coming year.<\/p>\n

Management announced that Roblox will become accessible on Meta Quest later this month and on PlayStation next month. Although the expansion to more platforms is a positive development, it’s worth noting that mobile and PC users still comprise 99% of the user base. Roblox has had limited success on Xbox and Oculus so far. Given this, Morgan Stanley anticipates that these platform expansions will have a limited impact on Roblox engagement in the short term.<\/p>\n

The analysts added, \u201cWhile the expansion to PlayStation and Meta (NASDAQ:) Quest were new developments, we expect them to generate limited incremental engagement in the near-term and look to the company’s planned Investor Day on 11\/15 for further detail on the financial outlook.\u201d<\/p>\n

They were encouraged to see expanded AI demos at the conference. The demos included generating custom avatars and virtual landscapes with English text prompts. Despite potential near-term headwinds, The analysts expect AI to help drive content creation and higher operating efficiency over time.<\/p>\n

Shares of RBLX are up 0.83% in premarket trading Monday morning.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Morgan Stanley attends Roblox (RBLX) developer conference; remains Equal-Weight Morgan Stanley reiterated an Equal-Weight rating on Roblox Corporation (NYSE:) with a 12-month price target of $30.00 on the stock after the American video game developer hosted its annual developer’s conference in San Francisco on Friday. \u201cWe viewed the event as more evolutionary than […]<\/p>\n","protected":false},"author":1,"featured_media":60130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-60129","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nMorgan Stanley attends Roblox developer conference; remains Equal-Weight | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Morgan Stanley attends Roblox (RBLX) developer conference; 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