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.
For further details see:
1 Wall Street Analyst Firm Thinks Roblox Stock Is Going to $55. Is It a Buy Around $37?