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Roblox (NYSE:RBLX) stock is on the rise Friday as investors react to new ratings from analysts for the gaming company.
Start us off is Truist, which upgraded shares of RBLX stock from a “hold” rating to a “buy” rating. For the record, the analysts’ consensus rating for RBLX shares is moderate buy based on 22 opinions.
Next we have Raymond James and its incredibly bullish rating for the Roblox shares. The firm’s analysts initiated coverage of RBLX stock with a “strong buy” rating.
RBLX Stock Price Targets
When it comes to new price targets for RBLX stock, Truist bumped the shares up from $35 each to $37 each. That represents a potential upside of 21% compared to its prior close. Also worth noting is the analysts’ consensus price prediction of $38.27 per share.
As for Raymond James, the firm’s analysts set a bullish price target of $41 per share for RBLX stock. That has it expecting a potential increase of about 34% for the price of RBLX shares.
The analysts highlight several positive catalysts for RBLX stock. That includes the upcoming Roblox investor day, expansion plans, and the integration of artificial intelligence (AI) tools into the platform.
All of this news has RBLX stock up 4.4% as of Friday morning. The stock was also up 9.7% year-to-date as of yesterday’s close.
Investors seeking out even more of the most recent stock market stories for Friday will want to keep reading!
We’ve got all of the biggest stock market news that traders need to know about today! Among that is what’s happening with shares of PTC Therapeutics (NASDAQ:PTCT) stock, TransCode Therapeutics (NASDAQ:RNAZ) stock and Apollomics (NASDAQ:APLM) stock today. All of that info is available at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.