Roblox price target raised to $160 from $125 at Canaccord

Canaccord raised the firm’s price target on Roblox (RBLX) to $160 from $125 and keeps a Buy rating on the shares. The firm notes Roblox reported very impressive Q2 results, with daily average users, bookings, and profitability all well ahead of what were already heightened expectations. The company also provided very strong Q3 guidance and raised its FY25 outlook, although management noted that while momentum has continued into July, it took a conservative approach to its second half of the year forecast given that the company is lapping several viral hits from Q3 2024 and that Q4 carries heightened uncertainty given the timing of bookings, Canaccord adds.