Roblox price target raised to $56 from $51 at BTIG

BTIG analyst Clark Lampen raised the firm’s price target on Roblox (RBLX) to $56 from $51 and keeps a Buy rating on the shares. The firm notes that while it foresaw an “attractive setup” heading into earnings based on the delta in investor sentiment vs. underlying fundamentals, the company’s bookings growth of 34% was well above expectations, with healthier underlying growth trends suggesting improvement in player monetization, the analyst tells investors in a research note.