Roblox price target lowered to $105 from $159 at Needham

Needham lowered the firm’s price target on Roblox (RBLX) to $105 from $159 and keeps a Buy rating on the shares after its Q4 results and reflecting the broad tech sell-off. Age verification provides incremental monetization opportunities for the company and the engagement drag appears minimal, the analyst tells investors in a research note. Bookings guidance was also “better than feared” and does not contemplate another viral game, which creates upside risk to our estimates, the firm adds.