Roblox price target raised to $70 from $60 at BofA

BofA raised the firm’s price target on Roblox (RBLX) to $70 from $60 and keeps a Buy rating on the shares following “another quarter of record metrics.” BofA told investors that PlayStation 5 availability drove much of the surprise, and console now comprises 8% of total bookings, helping to lift monetization. The firm expects console bookings to outgrow mobile bookings in 2025 because it is less penetrated among Roblox developers, and it monetizes better due to the older and more affluent player base.