Why Roblox Stock Was Up This Morning
Shares of Roblox (NYSE: RBLX) were trading up 5.9% as of 11:41 a.m. ET on Thursday after Wedbush raised the near-term price target on the stock from $28 to $34, although that is still below its current price of about $50. The research firm based its call on a better-than-expected start to the third quarter, but maintained its neutral rating on the shares.
The rally across the major market indexes is lifting all boats right now. Year to date, the stock is still down 51%, but a shift in investor sentiment could quickly erase some of those losses.
Wedbush's positive note runs contrary to other analysts who have downgraded the stock over the last few months. However, most of them still rate the stock a buy.
Source Fool.com
