Roblox price target raised to $32 from $30 at Wedbush

Wedbush analyst Nick McKay raised the firm’s price target on Roblox to $32 from $30 and keeps a Neutral rating on the shares. The analyst is skeptical that Roblox can maintain its best-in-class valuation multiples over the near term unless it outperforms expectations in the future. McKay added that the company must improve its profitability by a significant amount, and must become and remain the de facto metaverse leader in the eyes of certain investors while defending its position against competitors of all sizes.