Given this outlook, the firm lifted its price target to $70 from $65, reflecting 24% upside from Thursday's close.
— Samantha Subin 6:20 a.m.: Citi trims price target on Roblox, cites slower bookings growth Citi cut its price target on Roblox to $40 from $52 a share as the gaming platform grapples with a deceleration in bookings growth.
"We are updating our model to account for 1Q24 results and our latest outlook," wrote analyst Jason Bazinet.
For 2025, Citi now expects bookings growth of 14% versus 21%, or 4% below consensus.
The firm expects bookings growth of 10% in 2026, which is 11% below consensus.
Persons:
Macquarie, Jefferies, Reddit, Ronald Josey, OpenAI, Josey, – Samantha Subin, Mark McLaughlin, McLaughlin, — Samantha Subin, Jason Bazinet, DAUs, Bazinet, Craig Siegenthaler, Siegenthaler, Robinhood, — Fred Imbert, Morgan Stanley downgrades Baidu, Morgan Stanley, Gary Yu, Yu, Ellie Jiang, JD, Jiang, Laurence Alexander, Alexander
Organizations:
CNBC, DuPont, OpenAI, Bank of America, Citi, Baidu, Macquarie, Jefferies, DuPont de Nemours
Locations:
China, 3Q24, Robinhood, Underperform, Thursday's, JD.com