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

Needham analyst Bernie McTernan raised the firm’s price target on Roblox (RBLX) to $60 from $50 and keeps a Buy rating on the shares after its Q3 results . The company’s robust bookings growth of 34% or 28% excluding the console benefit was the highlight of the quarter, with acceleration being driven by aspects of the marketplace in Roblox’s control – including better search and discovery, optimizing monetization, better app performance and live events, the analyst tells investors in a research note.