Needham Maintains Buy on Roblox, Lowers Price Target to $40
Portfolio Pulse from richadhand@benzinga.com
Needham analyst Bernie McTernan has maintained a 'Buy' rating on Roblox (NYSE:RBLX), but lowered the price target from $48 to $40.
August 10, 2023 | 11:06 am
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Roblox's price target has been lowered from $48 to $40 by Needham, though the 'Buy' rating is maintained.
The lowering of the price target by Needham could potentially create a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintained 'Buy' rating indicates that the analyst still sees potential in the company, which could balance out the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100