BTIG raised the firm’s price target on Roblox (RBLX) to $180 from $173 and keeps a Buy rating on the shares. The firm is citing the company’s stronger-than-expected finish to the quarter, noting that its prior forecasts embedded sub-seasonal growth for September, but data ultimately suggests the month was in-line with historical pattern – down about 22% m/m vs. 15-20% observed historically since 2021, the analyst tells investors in a research note. A stronger exit rate brings the firm’s Bookings forecast from $1.695B to $1.788B, BTIG added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RBLX:
- ACHR, BIDU and BABA Among Cathie Wood’s Top Stock Moves on Wednesday (October 15)
- Mattel expands collaboration with Roblox
- DKNG, RKLB, and RBLX Among Cathie Wood’s Top Trades on Tuesday (October 14)
- Why Roblox Stock (RBLX) Could Hit $300 per Share, According to Morgan Stanley
- Game On: U.S. game spending jumps 11% in August, says Circana