Roblox price target raised to $50 from $46 at Benchmark

Benchmark analyst Mike Hickey raised the firm’s price target on Roblox to $50 from $46 and keeps a Buy rating on the shares following what the firm calls “an exceptional quarter,” in which the company surpassed consensus expectations in bookings, profit, and margins while also providing guidance that exceeded consensus estimates. The company reported the highest quarterly bookings growth in two years and the first $1B bookings quarter, says the analyst, who adds that operational efficiencies have improved margins and cash flow.