Roblox (NYSE:RBLX) stock is on the move today after one analyst released their most recent price prediction for the shares.
Deutsche Bank analyst Benjamin Black initiated coverage of RBLX stock today and put a $60 price target on the stock. To put that in perspective, it’s an almost 45% upside compared to the stock’s closing price on Thursday. However, it’s not as strong as analysts’ consensus price prediction of $86.46 for Roblox stock.
It’s also worth pointing out that Black has a “buy” rating for shares of RBLX stock. That matches analysts’ consensus rating, which is made up of 10 “buy” ratings, three “hold” ratings, and one “sell” rating.
So what has the Deutsche Bank analyst seeing a potential 45% gain for RBLX stock in the future? Here’s what he said in a note obtained by CNBC.
We calculate that if international penetration trends mimic the US’s current level over the next 4 years, Roblox would still have sufficient runway to more than double total DAUs by FY25 from aging-up alone.”
Trader for RBLX stock has been timid today following the new analyst rating. As of this writing, only about 10 million shares of the stock have changed hands. That’s still well below its daily average trading volume of 23.4 million shares.
RBLX stock is down 3% as of Friday afternoon and is down 59.3% since the start of the year.
Investors looking for more recent stock market news will want to keep reading!
We’ve got all the latest stock market coverage that traders need to know about for Friday! Among that is what has Vodka Brands (OTCMKTS:VDKB) stock rising higher, the news sending Guardforce AI (NASDAQ:GFAI) stock up today, as well as what’s giving shares of Excellon Resources (NYSEMKT:EXN) stock a boost. You can find all of that news at the following links!
More Stock Market News for Friday
- Vodka Stocks News: Why Is Vodka Brands (VDKB) Stock Up Today?
- Robotics News: Why Is Guardforce (GFAI) Stock Up 80%+ Today?
- Why Is Excellon Resources (EXN) Stock Up Today?
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.