“Roblox may have the most compelling growth trajectory among the video game names in our coverage universe after taking into account its user base size, its new products, and the potential to revisit its approach to profits. Here’s what McKay said about this in a note to clients obtained by CNBC: That saw the company’s shares fall as investors sold the stock amid lackluster results. Investors will note that this upgrade for RBLX shares comes after the online gaming platform released its latest earnings report yesterday.
However, it is still below the analysts’ consensus price prediction of $40.09 per share for RBLX. That represents a potential upside of 25.6% compared to yesterday’s close. In addition to this, the Wedbush analyst also set the firm’s price target for RBLX stock at $37 per share. To put that in perspective, the analysts’ consensus rating for RBLX stock is “hold” based on 24 opinions.
That upgrade has the analyst bumping RBLX stock up from a “neutral” rating to an “outperform” rating. Roblox (NYSE: RBLX) stock is on the rise Thursday as investors react to an upgrade from Wedbush analyst Nick McKay.
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