Roblox price target raised to $60 from $50 at Canaccord

Canaccord analyst Jason Tilchen raised the firm’s price target on Roblox (RBLX) to $60 from $50 and keeps a Buy rating on the shares. The firm said they reported strong Q3 results, with DAU, bookings, revenue, and profitability all coming in well ahead of the upper end of the guidance ranges. This momentum was broad-based across geographies and demographics, driven by enhancements to search and discovery, new tools for creators and developers to better monetize their work, improved app performance, and the introduction of more platform-wide events.