Roblox (NYSE:RBLX) stock is continuing to head higher after its initial public offering (IPO) last week and Stifel thinks it’s not likely going to stop anytime soon.
Stifel analysts initiated coverage of RBLX stock today with a buy rating. To go along with that, the analysts assigned the stock a price target of $85 per share. That’s higher than the consensus price of $72.50 per share. It also represents a possible upside of roughly 18% for the stock.
Roblox is a gaming platform that has more than 32 million average daily users. It allows for creators to craft their own experiences that they can then charge other players for. A boost in gaming has been good for the company as more people turned to gaming during the novel coronavirus pandemic.
Investors that want to know more about RBLX stock are in luck. InvestorPlace has a wealth of coverage for the stock to catch them up to speed.
- GNUS Stock Alert: New Roblox Series Sends Genius Brands Shares Surging
- RBLX Stock: Cathie Wood Gives Shares a Big Boost After the Roblox IPO
- The Roblox Experience Is Open for Business
- Roblox IPO: What Are the 5 Most Popular Games on Roblox?
- RBLX Stock: Can the Meme Stocks Frenzy Take Roblox to $120?
RBLX stock trading on Tuesday saw over 18 million shares change hands as of this writing. That’s below the stock’s daily average trading volume of roughly 48.7 million shares.
RBLX stock was up 4.3% as of Tuesday afternoon and is up 9% since its IPO.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.