Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Roblox (RBLX) to $155 from $153 and keeps an Overweight rating on the shares. The firm says that investors are seeking signs of sustainable bookings growth rate post a hit-driven summer exceeding all expectations. Wells believes durable high-20s to low-30s year-over-year growth is the appropriate expectation. With that said, development of secondary revenue streams still elusive, the firm notes.
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