Roblox (RBLX) has received a price target upgrade from Wedbush, moving from $91 to $110, while maintaining an Outperform rating. The firm highlights Roblox as a leading growth prospect in the video game industry, thanks to its expanding user base and innovative product lineup. Significant engagement increases are expected in Q3, particularly driven by Roblox's new initiatives like Grow a Garden, aligning with the summer vacation spike in activity.
Additionally, Roblox's recent collaboration with Google (GOOG, Financial) to introduce a rewarded video ad format is anticipated to significantly enhance the company's advertisement revenue. This partnership is part of Roblox's broader strategy to tap into new revenue streams and optimize its business model for higher profitability. As the firm navigates these strategic developments, considerable attention is being paid to how they can further capitalize on this growth momentum.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Alphabet Inc (GOOG, Financial) is $201.56 with a high estimate of $225.00 and a low estimate of $185.00. The average target implies an upside of 12.73% from the current price of $178.79. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Alphabet Inc's (GOOG, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alphabet Inc (GOOG, Financial) in one year is $199.10, suggesting a upside of 11.36% from the current price of $178.79. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alphabet Inc (GOOG) Summary page.
