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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RBLX:
- Roblox price target raised to $60 from $51 at Raymond James
- Microsoft reports Q1 beat, Comcast weighs cable networks spinoff: Morning Buzz
- Morning Movers: Roblox surges and Estee Lauder sinks following earnings
- Roblox Reports Strong Q3 2024 with Revenue Growth
- Roblox reports Q3 EPS (37c), consensus (39c)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
