Roblox price target raised to $76 from $58 at Wells Fargo

Wells Fargo raised the firm’s price target on Roblox (RBLX) to $76 from $58 and keeps an Overweight rating on the shares. The firm is also raising Q4 bookings growth by 2pts on FX Neutral basis as Roblox exits the year on a high. Wells looks for solid 2025 guidance of 20% reported bookings growth, despite FX headwind, and initial disclosure on platform ads.