Shares of Roblox (RBLX 1.24%) sank after its first-quarter results, despite the virtual gaming platform raising its full-year revenue outlook. The stock is now trading down over 30% year to date.

Roblox Corporation (NYSE: RBLX) has been in price discovery mode since debuting March 10.

Based on these factors, I’m reiterating my strong buy rating for Roblox and raising my price target to $103.7 by 2027, representing 135% upside from current levels.

"Ro-Souls 3 is a mortal journey by perseverance and strength," the game description reads. "There is no lowering the bar, nor raising it, the challenges you shall face are set in stone.

Roblox is emerging from the pandemic as a stock that's worth watching. The stock price rose to a high of $134 in November 2021 but has since fallen to $42 per share.

Roblox, the platform for Lego-like user-generated games, went public today in a direct listing, where employees and investors finally get a chance to sell shares on the market. The initial price ...