RBLX - 1 Wall Street Analyst Firm Thinks Roblox Stock Is Going to $55. Is It a Buy Around $37?
2024-05-03 17:34:00 ET
Roblox (NYSE: RBLX) shares have been range-bound over the past year and are sitting as I write this about 21% below their 52-week high of $47.20.
However, analysts at Roth MKM are keeping the firm's price target at $55 while also keeping a buy rating on the shares. Roblox will report first-quarter earnings results on May 9, and the analysts believe the company will continue to report growth in line with recent quarters.
Roblox is making a strong recovery following the slowdown in growth that started in 2022. Daily active users (DAU) hit a record high of 71.5 million in Q4 2023, and this sets up more revenue growth as players start spending money on virtual currency to unlock premium content.
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1 Wall Street Analyst Firm Thinks Roblox Stock Is Going to $55. Is It a Buy Around $37?