Roblox (RBLX) is set for long-term growth driven by its expanding user base and game genres on its platform, Wedbush Securities said in a Monday note.
According to the investment firm, the company's expanding genres leads to aging up of its user base, higher engagement, and increased monetization opportunities.
Wedbush also noted Roblox's international expansion and potential revenue from ads, particularly from its new rewarded video ad format partnership with Alphabet's (GOOG, GOOGL) Google.
The analysts said they see the company "as the most compelling growth opportunity in the video game sector," due to its growing user base, its slate of imminent products and a "potential to unlock additional profit drivers within its business."
Wedbush Securities reiterated its outperform rating on Roblox with a $91 price target.
Shares were up 1.4% in recent trading.
Price: 72.86, Change: +0.98, Percent Change: +1.36
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