Stock Groups

Roblox Gets Buy Rating From Needham -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Roblox Corp (NYSE:) shares rose 6% on  Friday, looking to reclaim some of this week’s losses following a buy rating from Needham.

Roblox shares plunged 9% and then 2% further on Wednesday after the company reported November metrics. This disappointed investors who had been expecting a better result.

Needham analyst Bernie McTernan remains bullish about the stock and has given it a positive rating. He also set a price target of $136. Analyst Bernie McTernan stated that the company is just beginning to enter the market. The analysts estimate the company will have a share of 1%.

McTernan commented that Roblox’s social and content aspects were “two powerful network effect working together” in order to grow their market share.

Roblox has a steady daily user base, engaged users and 20% growth in annual bookings as some of the advantages it offers. 

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