Why Roblox Stock Is Moving Today

Roblox Corp RBLX shares are trading higher by 2.4% at $96.03 Tuesday morning after Truist Securities analyst Matthew Thornton maintained the video game developer with a Buy rating and raised the price target from $83 to $103.

Roblox is an online entertainment platform, where users can interact with each other to explore and develop immersive, user-generated and 3D experiences. The platform offers a wide range of online games for kids, teens, and adults.

The gaming industry has been one of the winners of the onset of the COVID-19 pandemic, with video game sales and stocks outpacing the market at large. Roblox’s influence over its younger players also doesn’t end online — Roblox has consistently held its position as one of the top-grossing apps on both the Apple and Google app stores... Read More