Roblox price target lowered to $48 from $51 at BTIG

BTIG analyst Clark Lampen lowered the firm’s price target on Roblox to $48 from $51 but keeps a Buy rating on the shares. The analyst is updating his model going into the company’s December metrics report expected on January 17th. Lampen adds that his tracking of gift card activity and new user sign-ups suggests Q4 bookings to be slightly ahead of consensus, but revenue and daily active user metrics to come in "slightly shy". Longer term, Lampen is bullish on Roblox user growth potential and sees potential for nearly 100 million users on the platform and a high teens bookings CAGR.