Roblox price target raised to $44 from $41 at Stifel

Stifel analyst Drew Crum raised the firm’s price target on Roblox to $44 from $41 and keeps a Buy rating on the shares after the company reported better-than-expected Q3 results that drove the shares higher during Wednesday trading. Following a Q2 update that “clearly disappointed the market,” the company “took notice and responded,” says the firm, which think factors from this update that drove the rally include strong bookings growth, AEBITDA margin improvement and the company saying it will introduce quarterly and annual guidance starting next year.