RBLX - Is Roblox Stock Going Back to $40? 1 Wall Street Analyst Thinks So
2024-05-13 18:19:00 ET
Roblox (NYSE: RBLX) reported Q1 earnings last week, and the news was... disappointing. After beating expectations for both sales and earnings, the online gaming platform proceeded to warn that future growth in sales and "bookings" (essentially, sales of Robux virtual currency to users) won't be as fast as many investors hoped.
That's not the kind of news that growth investors like to hear, and Roblox stock sold off hard after earnings -- but not to worry, says Piper Sandler analyst Thomas Champion. Within a year, the analyst expects Roblox stock that fetches barely $31 apiece today to sell for $40 a share.
Is Champion right about that? And why does he think Roblox stock is a buy, when everyone else is selling Roblox stock?
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Is Roblox Stock Going Back to $40? 1 Wall Street Analyst Thinks So