RBLX - Roblox Eyes Global Expansion: Analyst Hypes Platform's Potential | Benzinga
Benchmark analyst Mike Hickey reiterated Roblox Corp (NYSE:RBLX) with a Buy and a $46 price target.
The San Mateo, California-based company looks to announce its fiscal fourth quarter 2023 financial results on Feb. 7. It will also provide formal guidance for the fiscal first quarter of 2024 and the full year of fiscal 2024.
The analyst maintained a positive outlook on Roblox’s long-term growth potential. Hickey anticipates:
- Robust revenue increases
- Promising advertising prospects
- Improved profitability
- Strong cash flow generation.
Also Read: Roblox Analyst Foresees Major Growth and Advertising Opportunities
Roblox, an online platform and game creation system, has strong growth potential and is reaching sustained profitability.
The analyst highlighted that key drivers include expansion into markets like India, Japan, Germany, and Brazil, extending to gaming consoles, attracting older gamers, and developing a $1 billion advertising ...