Roblox price target raised to $42 from $35 at Roth MKM

Roth MKM raised the firm’s price target on Roblox to $42 from $35 and keeps a Neutral rating on the shares ahead of its Q2 results. The firm’s estimates reflect improved engagement in May and June, but this view already appears reflected in the share price, the analyst tells investors in a research note. Roth MKM continues to believe in Roblox’s long-term growth opportunity in expanding to a three revenue stream model but also warns that the transition will take some time, the firm added.