Roblox price target raised to $78 from $70 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Roblox (RBLX) to $78 from $70 and keeps a Buy rating on the shares. While the Q4 print failed to meet expectations, as bookings growth came in at 21% year-over-year, mobile and desktop bookings were indeed strong in the quarter, the analyst tells investors in a research note. The firm says the challenging console compare from the PlayStation launch in Q4 of 2023 weighed on consolidated results. “This is certainly not a structural issue, rather the company was simply lapping a fairly significant compare,” contends Deutsche Bank. As such, it believes yesterday’s selloff was overdone and brings a “good buying opportunity.”