Needham is increasing its reservation estimates for the game and the game of the metaverse Roblox Corporation RBLX after the company reported key September metrics that sent shares higher. This is what investors need to know.

The Roblox Analyst: Needham’s Bernie McTernan reiterated a buy rating on Roblox with a $53 price target.

Roblox Conclusions: “The highlight of the September results was bookings that grew a constant current 19% at the midpoint, or 13% on a reported basis,” McTernan said in a note on Tuesday.

“This was ~8% above our expectations despite larger-than-expected FX headwinds driven by better ABPDAU (Average Bookings Per Daily Active User) as DAU were ~1% below our expectations,” the analyst said.

Be sure to check out the Roblox ratings page.

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