{"id":6576,"date":"2023-10-29T01:33:26","date_gmt":"2023-10-29T01:33:26","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/roblox-gains-after-luring-new-bulls\/"},"modified":"2023-10-29T01:33:26","modified_gmt":"2023-10-29T01:33:26","slug":"roblox-gains-after-luring-new-bulls","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=6576","title":{"rendered":"Roblox gains after luring new bulls"},"content":{"rendered":"
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\u00a9 Riccardo Milani \/ Hans Lucas via Reuters Connect Roblox (RBLX) gains after luring two new bulls<\/span>
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Roblox (NYSE:) shares gained 3% in early trading Friday after a pair of bullish analysts’ notes.<\/p>\n

First, analysts from Raymond James initiated coverage on the gaming platform with a Strong Buy rating and $41 price target citing its long-term growth prospects.<\/p>\n

The analysts highlighted five key factors for their bullish view: “1) long term shifts toward video gaming in young people\u2019s entertainment time budget, with pandemic shifts more durable than not; 2) strong opportunities for RBLX to grow its user base in international markets and older (age 17-24+) cohorts; 3) relatively early stage of on-platform economy sophistication with revenue opps like advertising starting to be realized; 4) expansion potential into non-gaming areas like education; and 5) the ability to leverage generative AI to make the platform more attractive for creators, accelerating the creator\/user content flywheel.”<\/p>\n

Not to be outdone, analysts from Truist Securities upgraded the stock to Buy from Hold with a $37 price target (up from $35). The analysts see a path to 20% upside to 2025 EBITDA.<\/p>\n

“We\u2019re upgrading RBLX to Buy as we see a path to 20% upside to consensus 2025 AEBITDA driven by: 1) the core business; plus 2) immersive advertising; 3) new platforms; and 4) transition away from engagement-based developer subsidies; with 5) additional optionality (upside or cushion) around real commerce and\/or AI-driven cost efficiencies,” the analysts commented in a note to clients.<\/p>\n

The analysts view the upcoming November 15th Investor Day as an opportunity for the company to provide a path to achieve and sustain 20% growth.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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