BofA lowered the firm’s price target on Roblox (RBLX) to $165 from $171 and keeps a Buy rating on the shares. Q4 growth of 63% year-over-year significantly outperformed both BofA’s estimate and “all but one investor we spoke with pre-print,” the analyst noted. Q4 marks “yet another hypergrowth quarter,” adds the analyst, whose target multiple is roughly consistent with high growth software stocks with similar growth rates, but has been lowered as growth stocks have broadly de-rated.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RBLX:
- Video: Amazon sinks on big spending plans, but market looks to bounce
- Roblox price target lowered to $140 from $180 at Goldman Sachs
- Roblox price target lowered to $100 from $125 at B. Riley
- Morning Movers: Amazon, Molina Healthcare sink following quarterly results
- Roblox price target raised to $160 from $155 at BMO Capital