G.I.Joe
First off let me welcome you to TFL! Remember, there are no stupid questions. Any time you have a question there is a large body of knowledge here so the answer is probably in here somewhere.
As for the Cobray, this is a variation of their pistol. It's had a stock and a longer barrel put on it. It's strictly a fun gun. I doubt whether you'd get very good accuracy with it. If that's what you're looking for, go for it. But I would suggest that you look around and see if that's what you really want. Ask yourself some questions, what are you looking for in shooting fulfillment i.e. ultra-precision, plinking, action-shooting, shotgun sports etc? Do you have a preference for handguns or longarms? Questions such as this will guide you in what you want/need.
Personally for a first gun I would pick up a single-shot or bolt-action .22 long rifle caliber rifle or a semi-auto (but only load one round at a time). Try it out with the supplied factory iron sights. This way you can learn trigger control, breathing, sight placement etc. .22lr ammunition is inexpensive so you can put a lot of rounds downrange for a very small outlay of cash. You'll find shooting to be much more enjoyable if you have at least some proficiency with the firearms you use. And always remember safety. That is the first and foremost rule of firearms!!! There is a good primer on safety on the link at the top of the page. The four rules of gun safety are located there.
Once you're comfortable then move on in your desired direction. But don't get rid of the .22. You'll probably find that you use it at least as much as anything else you may acquire. I know I put as many .22 rounds downrange as most all of my other calibers put together.
Most of all have fun. I find shooting to be the most relaxing thing going, for me at least. Why hit a defenseless little white ball when I can bang and clang