Roblox price target raised to $37 from $33 at JPMorgan

JPMorgan raised the firm’s price target on Roblox to $37 from $33 and keeps a Neutral rating on the shares following the investor day. Highlights included a roundup of product enhancements introduced year-to-date, a roadmap for the company’s advertising and commerce strategy, and a refresh on artificial intelligence integration into the platform, the analyst tells investors in a research note. The firm is encouraged by the long-term outlook and management’s decision to introduce quarterly and annual guidance, but prefers to remain on the sidelines and look for a better entry point.