Roblox Corporation (NYSE:RBLX) is one of the Best Communication and Media Stocks to Buy Now. On November 18, Roblox Corporation (NYSE:RBLX) announced the expansion of facial age checks for communication. Management noted that it is in the process of rolling out new age-based chat with the aim of limiting conversations within similar age groups.
Following the rollout, Roblox Corporation (NYSE:RBLX) will become the first online gaming platform with an age check requirement for communication. Management expressed hope that this feature will become an industry standard moving forward. This announcement comes after the company faced criticism from government officials around the world over alleged failure to protect young users from child predators and sexual exploitation. Roblox Corporation (NYSE:RBLX) is also facing lawsuits from attorneys general in Kentucky, Texas, and Louisiana over child safety concerns.
The new feature will require users to take and upload a selfie, which will be used to determine the age. Once the age has been determined, the users will be allocated to communication channels designated for the relevant age group. Matt Kaufman, the company’s head of safety, said,
“Policymakers struggle with a lot of companies who say ‘that’s just too hard. We couldn’t do it, Roblox is trying to set an example of what others can follow.”
In addition, Wall Street has a positive outlook on the stock. On November 17, Cory Carpenter from J.P. Morgan reiterated a Buy rating on Roblox Corporation (NYSE:RBLX) without disclosing any price target. Earlier on November 12, Matthew Cost from Morgan Stanley had also maintained a Buy rating on the stock with a price target of $170.
Roblox Corporation (NYSE:RBLX) operates a user-generated online gaming platform where users can create, share, and play 3D experiences made by a global community. The company’s free-to-play platform provides developers with tools to build games, such as Roblox Studio.
While we acknowledge the potential of RBLX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.