Roblox price target raised to $63 from $55 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Roblox (RBLX) to $63 from $55 and keeps a Neutral rating on the shares following the Q4 report. The company is seeing solid monetization and engagement trends, but daily active users were below expectations given the lapping of the Playstation launch in Q4 of 2023 and the first full quarter of impact from exiting Turkey, the analyst tells investors in a research note. Goldman views yesterday’s stock selloff as a reflection of robust investor expectations heading into the print.