Roblox price target raised to $42 from $37 at Truist

Truist analyst Matthew Thornton raised the firm’s price target on Roblox to $42 from $37 but keeps a Hold rating on the shares. The company’s Q4 results were better than expected with "higher" bookings than implied by the reported monthly metrics, the analyst tells investors in a research note. The firm remains at neutral however given the stock’s valuation at 40-times its expected 2024 EBITDA relative to 19% recent bookings growth excluding currency.