BTIG analyst Clark Lampen raised the firm’s price target on Roblox (RBLX) to $131 from $124 and keeps a Buy rating on the shares. The firm is making adjustments for a bottom-up Q2 Bookings build from performance of Grow a Garden, Regional Pricing modeled separately from the pre-Q2 base business, and strong July tracking, the analyst tells investors in a research note. Despite a substantial run in shares, BTIG remains constructive on Roblox and sees potential for a healthier rate of medium-term growth as a broader community of developers and users invest more of their time and resources into the platform, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RBLX:
- Roblox, Spotify, Enovix, General Dynamics, Crown Castle: Trending by Analysts
- Cathie Wood Bets Big on This Satellite Stock, Exits COIN and RBLX Positions
- Roblox price target raised to $133 from $125 at Oppenheimer
- Roblox price target raised to $142 from $110 at Wedbush
- Mixed options sentiment in Roblox with shares down 3.88%