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Cowen initiates Roblox coverage with Underperform rating on the stock

Yahoo Finance Live’s Jared Blikre discusses a Cowen analyst initiating Roblox coverage with an Underperform rating on the stock.

Video Transcript

[AUDIO LOGO]

JARED BLIKRE: Right, time now for a look at our trending ticker. Cowen reeling in Roblox. And the analyst initiating coverage on the stock with an underperform rating and a $31 price target, saying that while it's a successful-- while it is successful and has some, quote, "attractive characteristics," it's currently valued too highly on metaverse hype that's too far away to count on. And it looks like the shares are up about 20.6%--

JULIE HYMAN: I think

JARED BLIKRE: --over the trailing five days. Yes, go ahead.

JULIE HYMAN: They were down like 2 and 1/2% in premarket trading. So it seemed like earlier they were affected by that call. And now.

JARED BLIKRE: Easy come, easy go.

JULIE HYMAN: Yeah, breezy-- go easy, come, I guess,

JARED BLIKRE: Well--

JULIE HYMAN: --in this space.

JARED BLIKRE: --this is-- you know, these stocks-- some of these stocks are up 10%, 20% in one day. They're down 80%, 90%. Not this particular one. But come on, we've got to allow for some volatility here--

JULIE HYMAN: Sure.

JARED BLIKRE: --into it. Is options expiration week.