UBS Initiates Coverage of Roblox with Neutral Rating and $103 Price Target

UBS initiated coverage of Roblox with a Neutral rating and a $103 price target. The company's unique platform offers social play, hardware-agnostic experiences, and lower barriers to creation driven by AI. While Roblox delivered 70% bookings growth in Q3, UBS expects growth to ease in 2026 unless new breakout titles emerge. The firm forecasts 23% bookings growth in 2026 and sees margins expanding again from 2027.