Roblox Stock Surges As Analysts Boost Targets Ahead Of Q3 Earnings

Benzinga

Roblox shares gained 3.9% after Raymond James raised its price target to $165, citing strong Q3 momentum from viral titles and 76% bookings growth. Analyst Andrew Marok’s bullish outlook comes ahead of the Oct. 30 earnings report.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Roblox shares rose on Tuesday after Raymond James analyst Andrew Marrock

00:06raised his price target to $165 and reiterated an outperform rating

00:10out of the company's October 30th earnings report.

00:13Marrock attributed Roblox's momentum to viral experiences like Grow a Garden,

00:16projecting about 76% year-over-year bookings growth in the third quarter,

00:20according to Benzinga.

00:21Marrock's model, which outperformed consensus estimates last quarter,

00:24indicates Roblox's platform time rose 96% year-over-year in the third quarter

00:29based on sensor tower data.

00:31The bullish outlook comes despite potential headwinds from genre shifts

00:34and reduced engagements during the back-to-school period.

00:37Over the past three months, 24 analysts have rated Roblox,

00:40setting an average price target of $152.62,

00:43up 23.58% to the prior $123.50 average.

00:48Shares were up 3.93% at $133.28 on Tuesday's close,

00:53according to data from Benzinga Pro.

00:55For all things money, visit Benzinga.com.

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