Roblox price target raised to $60 from $44 at Benchmark

Benchmark raised the firm’s price target on Roblox (RBLX) to $60 from $44 and keeps a Buy rating on the shares after the company delivered “strong results,” exceeding revenue and profitability expectations, and raised its FY24 guidance. The firm views Roblox as positioned to benefit from AI and digital growth and cites its “robust performance and alignment with key growth trends” for the firm’s increased target.