{"id":22199,"date":"2023-06-13T18:33:38","date_gmt":"2023-06-13T22:33:38","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/buy-roblox-stock-analyst-says-its-part-of-the-metaverse-story\/"},"modified":"2023-06-13T18:33:40","modified_gmt":"2023-06-13T22:33:40","slug":"buy-roblox-stock-analyst-says-its-part-of-the-metaverse-story","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22199","title":{"rendered":"Buy Roblox Stock, Analyst Says. It&#8217;s Part of the Metaverse Story."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000669256\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Roblox<br \/>\n       stock has gained a new bull who sees plenty of potential for the online-gaming company.\u00a0<\/p>\n<p>Canaccord analysts led by Jason Tilchen initiated coverage of<br \/>\n        Roblox<br \/>\n       (ticker: RBLX) with a Buy rating and price target of $48 in a Tuesday report.\u00a0<\/p>\n<p>Shares of Roblox ticked up 0.2% to $39.02 Tuesday, while the<br \/>\n        S&amp;P 500<br \/>\n       rose 0.5%. So far this year, the stock has jumped 37%, while the broader index has risen14%. <\/p>\n<div class=\"paywall\">\n<p>\u201cRoblox began as a gaming hub for young kids featuring blocky avatars and simplistic games built by hobbyists, but over time the platform has evolved to become one of the leading destinations for immersive gaming and social interactions in persistent virtual worlds,\u201d Canaccord analysts wrote.\u00a0<\/p>\n<p>The company has devoted dollars to create more realistic avatars and communication features to drive such a pivot, the analysts said. That has helped Roblox appeal to older users and tackle new international markets, they added. The platform has also attracted brands that lay the groundwork for advertising \u201cto serve as another driver of monetization growth over the coming years.\u201d<\/p>\n<p>The stock, however, has been volatile since its initial public offering in 2021, the analysts noted, as investors have struggled to pin a valuation on the company. Roblox grew quickly before and during pandemic, with daily average users multiplying to about 50 million in 2021 from 19.1 million in2019. That growth slowed in 2022, with users reaching 58.8 million, but has picked back up in the first quarter of 2023.<\/p>\n<p>Roblox posted a net loss in its most recent quarter. However, the company\u2019s margins should improve in the near term, the analysts said, as they expect its booking growth to surpass any increase in investment this year and heading into 2024.\u00a0Bookings is a metric that includes revenue and\u00a0the change in deferred revenue during the period and other noncash adjustments, according to Roblox.<\/p>\n<p>Canaccord sees opportunities for the company if it can deliver on initiatives to channel more spending on the platform. It has \u201d a long-term opportunity to enter new verticals as technological advancements enable mainstream adoption of the metaverse,\u201d they wrote.<\/p>\n<p>Tech companies see the metaverse as largely uncharted territory, but one that could be ripe for monetization.<\/p>\n<p>The global gaming market has made huge strides over the last decade, the analysts said. Meanwhile, gaming and socialization have served as the two main uses of the metaverse so far\u2014both of which Roblox taps into. They also note the company\u2019s offerings to developers and users, drawing parallels to YouTube as \u201ccreators can monetize their work in a variety of ways.\u201d\u00a0<\/p>\n<p>Canaccord analysts aren\u2019t the only ones cheering for Roblox. Last month, after the company posted mixed earnings for its first quarter, the company snagged two analyst upgrades. Of those surveyed by FactSet in June, 52% rate shares at Buy, 24% at Neutral and 24% at Sell.<\/p>\n<p>Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/roblox-stock-price-metaverse-89f96853?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Roblox stock has gained a new bull who sees plenty of potential for the online-gaming company.\u00a0 Canaccord analysts led by Jason Tilchen initiated coverage of Roblox (ticker: RBLX) with a Buy rating and price target of $48 in a Tuesday report.\u00a0 Shares of Roblox ticked up 0.2% to $39.02 Tuesday, while the S&amp;P 500 rose [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-22199","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buy Roblox Stock, Analyst Says. 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