Raymond James added Roblox (RBLX) to the firm’s Analyst Current Favorites List while keeping a Strong Buy rating on the shares with a $60 price target Roblox is very well-positioned to continue expanding its reach within the interactive entertainment sector, the analyst tells investors in a research note. The firm believes the combination of a “substantial outstanding user opportunity and plenty of room to increase monetization” of its users should lead to a long runway of 20%-plus annual sales growth.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RBLX:
- Roblox (NYSE:RBLX) Stock Falls on News of Undisclosed SEC Probes
- Roblox put volume heavy and directionally bearish
- Roblox faces ‘undisclosed’ SEC and FTC probes, Hunterbrook says
- Roblox down 4% after Hunterbrook report on undisclosed government probes
- Game On: Sony reportedly in talks to acquire Kadokawa