Why Roblox Stock Rallied on Monday
Shares of Roblox (NYSE: RBLX) gained ground on Monday, surging as much as 6.8%. At 12:28 p.m. ET, the stock was still up 5.5%.
The catalyst that sent the mobile gaming platform higher was bullish commentary by a Wall Street analyst.
MKM Partners analyst Eric Handler raised his price target on Roblox to $40 from $28 while maintaining a neutral (hold) rating on the shares, according to The Fly. The analyst was likely playing catch-up, as the increased price target was already below Roblox's closing price of $42.93 on Friday.
Source Fool.com
