Analysts at Oppenheimer upgraded Roblox (NYSE:RBLX) to "outperform" froma previous investment rating of "market perform," as the recent fall in share prices opened up "an excellent entry point ...

JPMorgan analyst Cory Carpenter said that with investors hesitant to buy shares, Roblox was at a "compelling entry point." Despite Tuesday's gains, Roblox shares are down 21% so far this year.

Existing investors may consider holding their positions, but new investors should exercise caution, potentially waiting for a more favorable entry point. Roblox currently has a Zacks Rank #3 (Hold).