Roblox price target raised to $62 from $46 at Barclays

Barclays raised the firm’s price target on Roblox (RBLX) to $62 from $46 and keeps an Equal Weight rating on the shares. The company reported strong Q1 results with acceleration across the board and raised the fiscal year outlook by the flow-through, the analyst tells investors in a research note. The firm says Roblox’s long-term story remains compelling as artificial intelligence should benefit the gaming ecosystem more than most companies.