Roblox price target raised to $62 from $51 at JPMorgan

JPMorgan raised the firm’s price target on Roblox (RBLX) to $62 from $51 and keeps an Overweight rating on the shares. Roblox reported a Q3 beat and raised its 2024 outlook across all metrics, the analyst tells investors in a research note. The firm believes the outlook is likely to prove conservative based on its conversations with the company that suggest bookings trends “remain healthy.”