Roblox price target raised to $84 from $80 at Canaccord

Canaccord raised the firm’s price target on Roblox (RBLX) to $84 from $80 and keeps a Buy rating on the shares. The firm said they reported strong Q1 results, with DAU, bookings, revenue and profitability all coming in well ahead of expectations. Continued improvements to search and discovery, along with genre expansion efforts, are driving heightened engagement across a more diverse set of experiences, and new price optimization and regional pricing tools are helping to create a more vibrant digital economy on the platform.