12 Best Cryptocurrency and Blockchain Stocks to Buy

5. Roblox Corporation (NYSE:RBLX)

Year to date Performance as of June 23: 73.5%

Number of Hedge Fund Holders: 68

Roblox Corporation (NYSE:RBLX) is one of the 12 best cryptocurrency and blockchain stocks to buy. On June 18, Oppenheimer raised its stock price target to $125 from $80 while reiterating an ‘Outperform’ Rating. The adjustment follows growing confidence that the company has a better solution for user growth and user retention than most game publishers.

Analysts at Oppenheimer are optimistic that the company’s recommendation algorithm will likely give it an edge in the TikTok era, where trends emerge organically. Consequently, they expect Roblox to benefit as studios move toward “a game publisher model,” where they spend more time identifying trends.

In addition, Oppenheimer has cited increasing content velocity and robust technology infrastructure that underscores Roblox’s long-term prospects. The research firm is also optimistic about the company’s sustainable user growth momentum and ad revenue potential. It is also confident about Roblox’s long-term market share gain potential from competing gaming platforms.

Roblox Corporation (NYSE:RBLX) develops and operates a global platform that allows users to create, share, and play games and experiences with each other. It owns a virtual currency called Robux, which is used for in-game purchases and can be converted to real-world currency by developers. It has also explored the potential of blockchain technology and digital assets.