BofA Sees Huge Upside in Roblox (RBLX) as GAG Hits 21.3 Million Concurrent Users

Roblox Corporation (NYSE:RBLX) ranks among the best growth stocks to buy for the next 10 years. BofA Securities reaffirmed its Buy rating on Roblox Corporation (NYSE:RBLX) and increased its price target from $103 to $133 on July 28. The price target hike comes after the successful launch of Grow a Garden (GAG) on March 26. According to BofA, GAG’s launch ranks as the largest video game launch ever, with 21.3 million concurrent users (CCUs), surpassing Fortnite’s launch.

BofA Sees Huge Upside in Roblox (RBLX) as GAG Hits 21.3 Million Concurrent Users

According to analyst Omar Dessouky of BofA Securities, the RBLX stock has nearly doubled in value since the debut of GAG. The analyst states that GAG’s performance shows that the Roblox platform can yield industry-leading KPIs for developers and generate several hits.

Additionally, according to BofA Securities, the majority of investors they interviewed had been Roblox enthusiasts for at least two years, indicating that speculative newcomers were not the main force behind the most recent stock boom.

Roblox Corporation (NYSE:RBLX) is a video game developer based in California. With 2.9 million developers, 6 million active experiences, and 88.9 million active users per day, Roblox Corporation (NYSE:RBLX) extends beyond the traditional definition of a video game by combining its digital currency and offering an extensive range of unique virtual experiences.

While we acknowledge the potential of RBLX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RBLX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.