Roblox price target raised to $50 from $48 at Roth MKM

Roth MKM raised the firm’s price target on Roblox to $50 from $48 and keeps a Buy rating on the shares. The company’s Q3 results were “impressive” and the firm expects continued strength in shares and positive commentary from next week’s investor meeting, the analyst tells investors in a research note. Roth MKM contends that Roblox management is prepared to lay out a path to achieve at least high-teens average bookings growth over the next several years with annual adjusted EBITDA margin expansion of 200bps-300bps.