Correction-BUZZ-Jefferies downgrades Roblox rating to "Underperform"; shares drop 3%

Corrected headline and first key point: share price down 3%, not 1.5%

September 28 - ** Gaming platform Roblox (RBLX.N) shares fell 3% in premarket trading to $44.93

** Jefferies downgraded the stock from "Hold" to "Underperform"

** The firm said: “Although we are positive on RBLX’s focus on expanding the platform to support new game types and the 18+ user base, we believe it will take longer and cost more than the market expects for user growth and bookings improvements in the U.S. and Canada.”

** Jefferies added that recent viral games, such as 'Steal an Egg', are unlikely to bring incremental users to the platform

** Thirty-eight analysts on average rate the stock "Hold"; median price target is $47—data compiled by LSEG

** As of yesterday's close, the stock is down about 43% for the year

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