Wedbush isn't deterred after disappointing second-quarter results from Roblox .
The firm upgraded the gaming stock to outperform from neutral Wednesday, accompanied by a $37 per share price target.
Roblox missed on both the top and bottom line on Wednesday, sending shares plummeting more than 20% .
The analyst added that the large-scale stock selloff on Wednesday could present investors with a buying opportunity, with an upside-skewed risk-to-reward profile.
RBLX YTD mountain Roblox stock has added nearly 4% from the start of 2023.
Persons:
Wedbush, Roblox, Nick McKay, McKay, — CNBC's Michael Bloom