Roblox price target lowered to $33 from $36 at Wedbush

Wedbush analyst Nick McKay lowered the firm’s price target on Roblox (RBLX) to $33 from $36 and keeps a Neutral rating on the shares. The analyst noted that he has consistently said the company would have to outperform expectations for its monthly key metrics in order to maintain high multiples over the long-term, but that "did not happen" on Wednesday. McKay added that he believes bookings in the last four days of October suffered due to competition from the release of Activision Blizzard’s (ATVI) "Call of Duty: Modern Warfare II."