Roblox price target raised to $58 from $54 at Wells Fargo

Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Roblox (RBLX) to $58 from $54 and keeps an Overweight rating on the shares. Roblox posted an exceptionally strong Q3 bookings quarter, and the firm now looks toward a solid holiday quarter and a focus on adding new revenue streams in 2025, the analyst tells investors in a research note. Wells says Roblox remains one of its favorite long-term stories.