Shares of Roblox rose Tuesday, after Truist Securities boosted price target on the stock to a Wall-Street-high .
Truist Securities raised the price target on the online game platform’s shares to $103 from $83.
According to Truist, second-quarter bookings (the amount of virtual currency users purchase in a given period ) seem to be tracking at least mid-single-digit-percent above consensus (upwards of low-double-digit-percent).
Truist said that 2021 consensus seems “a low hurdle”.
"Beyond numbers, the focus is likely to remain China, new features/platforms and new branded experiences", Truist noted.