Roblox price target raised to $46 from $35 at Benchmark

Benchmark analyst Mike Hickey raised the firm’s price target on Roblox to $46 from $35 and keeps a Buy rating on the shares. Q3 performance demonstrated a “remarkable” 20% net bookings increase and a strategic reduction in expenses that position the company for sustained growth and profitability, the analyst tells investors. Roblox’s “exceptional performance” in key markets led to a notable beat on AEBITDA and a meaningful progression in operating leverage, added the analyst.