Goldman Sachs Maintains Sell Rating for Roblox: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Goldman Sachs has reaffirmed its Sell rating on Roblox Corporation (NYSE:RBLX) but increased its price target from $26.00 to $35.00. Despite the upgrade in the price target, the new target still suggests a potential downside of 10.71% from the current trading price of $39.20. Roblox operates an online platform allowing users to create and monetize games, and it earns revenue through a variety of channels while leveraging outsourced game development.
January 19, 2024 | 5:00 pm
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Goldman Sachs maintains a Sell rating on Roblox but raises the price target from $26 to $35, indicating a potential downside of 10.71% from the current price.
The reaffirmation of the Sell rating by Goldman Sachs is likely to have a negative impact on investor sentiment towards Roblox in the short term. Although the price target has been raised, it still represents a potential decrease in share price, which could lead to bearish investor behavior. The confidence in this analysis is high due to the influence of analyst ratings on market perception, especially from a prominent financial institution like Goldman Sachs.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100