5 Under-the-Radar Stocks With Massive Upside for 2024

2. Roblox Corporation (NYSE:RBLX)

Number of Q4 2023 Hedge Fund Shareholders: 50

Average Analyst Share Price Target Upside: 38%

Roblox Corporation (NYSE:RBLX) is a consumer technology company headquartered in San Mateo, California. It provides users with a virtual reality platform called a metaverse. The shares and their investors were in for some great news in April 2024 after investment bank JPMorgan raised the share rating to Overweight from Neutral and increased the share price target to $48 from $7.

Insider Monkey scoured through 933 hedge funds for their investments during last year’s final quarter to find that 50 had invested in the firm. Roblox Corporation (NYSE:RBLX)’s biggest hedge fund investor is Catherine D. Wood’s ARK Investment Management as it owns $544 million worth of shares.

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