Wedbush Has Lowered Expectations for Roblox (NYSE:RBLX) Stock Price

For investors following the movements of gaming sensation Roblox (NYSE: RBLX), there’s a fresh update from Wall Street. Equities researchers at Wedbush recently revised their price target for Roblox, shifting it from an ambitious $165.00 down to $110.00.

This adjustment was detailed in a research report issued on Friday, as reported by Marketbeat.com. Despite the reduction in the price target, Wedbush has maintained its “outperform” rating on the stock, indicating that they still see strong potential for RBLX.

What does this new target imply for the stock’s future? Wedbush’s updated price objective suggests a potential upside of a significant 67.86% from the stock’s previous closing price. This indicates that even with the revised expectations, the firm anticipates substantial growth for Roblox shares.

Price target modifications are a standard part of stock analysis, often reflecting new market data, industry trends, or company-specific developments. For Roblox, a dominant player in the user-generated content and metaverse space, this new perspective from Wedbush will certainly be a point of interest for current and prospective investors tracking its performance.

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