The Fly

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."

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on RBLX:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More