Roblox price target raised to $26 from $24 at Morgan Stanley

Morgan Stanley analyst Matthew Cost raised the firm’s price target on Roblox to $26 from $24 and keeps an Underweight rating on the shares. While stating that Roblox reported "strong" Q4 and January results that prompted the firm to raise its FY23 and FY24 bookings forecasts by 5% apiece, Morgan Stanley remains cautious into the remainder of this year as it sees the recent momentum being "more than fully priced at these levels."