🔴 RBLX is trading 4.4% down today after Wells Fargo lowers price target

RBLX is trading at $57.46 (-4.41%) after Wells Fargo lowered its price target on the stock, bucking the trend of a modestly positive market.

• Wells Fargo cut its price target on Roblox to $78 from $97, citing concerns about second-quarter bookings and EBITDA.
• The analyst action occurs despite a generally positive market sentiment, with the S&P 500 up 0.11% and the NASDAQ up 0.26% amid reports of U.S.-Iran ceasefire talks.
• Today's drop contrasts with the stock's recent performance, including a 4.3% gain recorded on April 02.