Piper Sandler Reiterates Overweight on Roblox, Lowers Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Thomas Champion has reiterated an Overweight rating on Roblox (RBLX) but has lowered the price target from $56 to $40.
May 10, 2024 | 1:37 pm
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Piper Sandler has maintained its Overweight rating on Roblox but reduced the price target from $56 to $40, indicating a more cautious outlook on the stock's short-term price potential.
The reduction in price target by a reputable analyst firm like Piper Sandler could lead to short-term negative sentiment among investors, potentially causing a decrease in the stock price. The Overweight rating suggests a positive long-term outlook, but the lowered price target indicates near-term challenges or valuation concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100