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Wedbush started coverage on shares of King Digital Entertainment PLC (NASDAQ:KING) in a research note issued on Tuesday. The firm set an “outperform” rating and a $25.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 40.06% from the company’s current price.

The analysts wrote, “We are initiating coverage of King Digital Entertainment with an OUTPERFORM rating and a 12-month price target of $25. Our target is based upon assigning a roughly 9x multiple to our $2.87 estimate for King’s EPS in 2015. This reflects a discount to the market multiple to account for the risks associated with a hit-driven business, and to reflect King’s large concentration of revenues from its biggest game, Candy Crush Saga.”

A number of other analysts have also recently weighed in on KING. Analysts at Bank of America initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set a “buy” rating and a $23.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “$27″ rating on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. Finally, analysts at Cowen and Company initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set an “outperform” rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.67.

Shares of King Digital Entertainment PLC (NASDAQ:KING) traded up 5.12% during mid-day trading on Tuesday, hitting $17.85. The stock had a trading volume of 3,481,742 shares. King Digital Entertainment PLC has a 52-week low of $15.26 and a 52-week high of $21.39. The stock has a 50-day moving average of $16.73 and a 200-day moving average of $17.38. The company has a market cap of $5.671 billion and a price-to-earnings ratio of 8.47. King Digital Entertainment PLC also was the target of unusually large options trading activity on Friday. Traders acquired 11,964 call options on the company. This is an increase of 1,291% compared to the typical daily volume of 860 call options.

King Digital Entertainment PLC (NASDAQ:KING) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.16. The company had revenue of $606.70 million for the quarter, compared to the consensus estimate of $205.90 million. The company’s revenue for the quarter was up 194.7% on a year-over-year basis.

King Digital Entertainment plc is an interactive entertainment company. The Company’s games include Candy Crush Saga, Pet Rescue Saga, Farm Heroes Saga, Papa Pear Saga and Bubble Witch Saga.

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