Roblox is no stranger to controversy, and the latest issues don't seem to be hurting it in the market. After years of ongoing child safety concerns, the Attorney General of Louisiana sued Roblox this month, and a petition to remove the company's CEO has passed 200,000 signatures. None of this has impeded the game's growth, as evidenced by the bump in stock prices this week.
Wolfe Research analyst Shwete Khajuria upgraded Roblox (RBLX) from Hold to Buy on Friday, leading to a bump in stock value, as reported by TipRanks. Roblox stock has risen significantly over the past year, but the past month was less fortunate, falling from a peak of $137.79 on July 31 to $114.85 on August 21. Thanks to Khajuria's stock upgrade, that line is going up again, with a 2% rise in the past day.
Khajuria's upgrade noted Roblox's advertising opportunities as a reason to invest, along with regional and in-app pricing optimizations. While the platform has been popular for years, Khajuria considers the ad revenue to be an area that still has a lot of growth ahead of it, leading to potentially strong returns on investment.
Khajuria places the Roblox stock price target at...
