Roblox (RBLX), the online video game platform that’s popular with children and teenagers, has been blocked in Russia.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
The Russian government has blocked access to Roblox, accusing it of disseminating extremist materials and “LGBT propaganda.” The government also said that the Roblox platform is “rife with inappropriate content that can negatively impact the spiritual and moral development of children.”
Roblox has not commented publicly on the ban in Russia. RBLX stock is down a little more than 1% on Dec. 3 after news broke of the Russian ban. Roblox, which claims to have 151.5 million daily active users, has been banned in other countries, including Iraq and Turkey, over concerns about children’s health.
Roblox’s Efforts to Keep Users Safe
Roblox has said repeatedly that it is committed to keeping users safe, especially children. The company says it employs artificial intelligence (AI) tools, moderation teams, and collaborates with law enforcement and child safety experts to help ensure its platform is as safe and secure as possible.
For its part, Russia has long restricted access to media and technology platforms that it deems to be in bad taste or that breach Russian laws. In 2023, Russia designated what it called the “international LGBT movement” as extremist and labeled those supporting gay, bisexual, and transgender people as terrorists.
Is RBLX Stock a Buy?
The stock of Roblox has a consensus Moderate Buy rating among 22 Wall Street analysts. That rating is based on 14 Buy, seven Hold, and one Sell recommendations issued in the last three months. The average RBLX price target of $148.53 implies 60.50% upside from current levels.
