Roblox price target lowered to $44 from $48 at Stifel

Stifel analyst Drew Crum lowered the firm’s price target on Roblox to $44 from $48 and keeps a Buy rating on the shares after the company reported November KPIs. The analyst notes that results slipped sequentially versus October, and came in below expectations, including his assumptions. KPIs can move around month to month, but these results suggest a greater deceleration relative to his model, placing further dependence on December to deliver the quarter, Crum argues. The analyst would expect the shares to react negatively to this update.