In a move that has sent ripples through the investment community, equities researchers at Wedbush recently adjusted their outlook on Roblox (NYSE:RBLX) stock. For investors following the popular gaming platform, this news is certainly noteworthy.
According to a research report issued on Friday, and highlighted by Marketbeat.com, Wedbush has lowered its price target for Roblox significantly. The firm moved its target from a robust $165.00 down to $110.00. This substantial revision reflects a new perspective on the stock’s near-term potential.
Despite this downward adjustment in the price target, Wedbush has chosen to maintain its “outperform” rating on RBLX. This suggests that while they see a lower ceiling than before, they still believe the stock has strong potential to perform better than the broader market.
What does this mean for current and prospective investors? Wedbush’s new price objective of $110.00 points to a potential upside of 67.86% from the stock’s previous close. This indicates that even with the revised target, Wedbush sees considerable growth opportunities for Roblox from its current valuation.
Investors will be watching closely to see how RBLX reacts to this updated guidance and what future reports may reveal about the company’s performance.
Source: Original Article
