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Roblox price target lowered to $40 from $44 at Stifel
The Fly

Roblox price target lowered to $40 from $44 at Stifel

Stifel analyst Drew Crum lowered the firm’s price target on Roblox to $40 from $44 and keeps a Buy rating on the shares after having reviewed his model and made adjustments to estimates. While his assumptions for 2022 are largely unchanged with bookings at $2.817B, he has trimmed his 2023 forecasts, Crum noted. December KPIs for Roblox are likely to be issued on or around January 17, said Crum, who added that importance of this release is notable given that December has historically been Roblox’s largest month of the year in terms of bookings. A strong December is necessary in order to meet expectations and "reverse sentiment following what was deemed a disappointing set of KPIs for November," Crum tells investors.

Published first on TheFly

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