BTIG raised the firm’s price target on Roblox (RBLX) to $159 from $131 and keeps a Buy rating on the shares. The company’s Q2 results and guidance exceeded “very healthy” pre-print expectations, the analyst tells investors in a research note. The developer community is also taking notice of a growing earnings opportunity on Roblox and the flywheel is more sustainable than a hit-driven – Grow-a-Garden, Steal a Brainrot – surge might otherwise lead people to believe, the firm added.
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:
- Roblox price target raised to $150 from $77 at Benchmark
- Roblox price target raised to $160 from $125 at Canaccord
- Roblox’s Strong Performance and Strategic Adjustments Support Buy Rating with Increased Price Target
- Roblox price target raised to $120 from $62 at Barclays
- Roblox’s Strong Financial Performance and AI-Driven Growth Justify Buy Rating