Most companies that have invested a lot of their resources in the metaverse like Meta are yet to realize the success of their visions mainly due to their overwhelming expectations. However, some appear to be on the right track just by taking things steady like Fortnite and Roblox. The latter is forecasted to be a stock to watch out for this year.
Vision Pro: A Likely Catalyst for the Resurgence of Interest in the Metaverse
According to analytics firm TipRanks, Wall Street remains cautious on Roblox but the prospect of metaverse stocks looks bright as it gears up to new milestones. One of the much-anticipated events in the sector is the market rollout of the Apple Vision Pro headset.
Although Vision Pro never makes mention of the words “metaverse” or “Web3” on its product pages, the public has always linked them all together. This was best exhibited when metaverse-related tokens saw an uptick when Apple unveiled the device. But then again, the product’s features are intertwined with the “interplay between AR and VR” which is the very definition of the metaverse.
It’s not clear whether Roblox has something planned for the Vision Pro or it has a brewing partnership with Apple. However, the gaming platform may find it hard to pass out on the opportunities unlocked by the game-changing gadget.
Price Targets for Roblox
For TipRanks, generative artificial intelligence (AI) has gotten “a tad too ahead of itself.” As a consequence, the market could eventually get to this realization and many investors could pivot back to the metaverse niche. Again, this could be bolstered by Apple’s all-new product.
Roblox closed at $40.41 during the last trading day and $40.25 after hours. The numbers showed a 2.20% slump in the one-day chart but have displayed 4.15% and 13.73% gains in the past five days and past year, respectively.
The research firm cited Roth MKM’s bullish prediction for Roblox stocks in their assessment, which cast a 23.7% gain toward a $50 price target on the way to 2025. It also gave a “Moderate Buy” rating for the shares of the company in accordance with the assessment of 21 Wall Street analysts but with a higher price target at $55 on the upside. Meanwhile, the average could sit at $45.71 while a reverse of that trend could drop the value to $21. The same projection was reflected by eToro based on its nine ranked analysts.
Final Thoughts
The Vision Pro was originally scheduled to be shipped out to buyers by February 2 this year. To their disdain, however, Apple just sent notifications to customers last week informing them that it would be pushed between February 29th and March 7th. With that, the full effect of its rollout toward public sentiment and the metaverse in general remains to be seen.
Another factor that could detract Roblox’s growth is its direct rival, Fortnite. Thus, developments on the competing platform are things that should also be on metaverse investors’ radars.