Roblox price target raised to $55 from $51 at Needham

Needham analyst Bernie McTernan raised the firm’s price target on Roblox to $55 from $51 and keeps a Buy rating on the shares. Roblox has returned to strong bookings growth, exiting FY23 with 25% growth and achieved margin expansion in the second half of the year, two items that weighed on shares over the two prior years, the analyst tells investors in a research note.