Roblox price target raised to $52 from $48 at BTIG

BTIG analyst Clark Lampen raised the firm’s price target on Roblox to $52 from $48 and keeps a Buy rating on the shares. BTIG expects to see Roblox report Bookings ahead of current consensus expectations, based on stronger sign-up volumes and monetization rates that are expected to run flat to up slightly y/y, similar to 3Q23, the analyst tells investors in a research note. The pathway for ramping the advertising business laid out at the investor day leaves BTIG feeling more confident that margins should ultimately scale toward the 25%-30% range, the firm adds.