Needham analyst Bernie McTernan raised the firm’s price target on Roblox to $42 from $39 and keeps a Buy rating on the shares. The company’s December performance topped expectations across all significant metrics, which is a "stark rebound" from November results, the analyst tells investors in a research note. McTernan believes that the beat was "largely organic", forecasting high teens in reported bookings growth in FY23.
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Published first on TheFly
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