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Cowen and Company began coverage on shares of King Digital Entertainment PLC (NASDAQ:KING) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $31.00 price target on the stock. Cowen and Company’s target price suggests a potential upside of 73.67% from the stock’s previous close.

King Digital Entertainment PLC (NASDAQ:KING) traded up 5.12% on Monday, hitting $17.85. The stock had a trading volume of 3,481,742 shares. King Digital Entertainment PLC has a one year low of $15.26 and a one year high of $21.39. The stock has a 50-day moving average of $16.7 and a 200-day moving average of $17.39. 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 recipient of unusually large options trading activity on Friday. Stock traders acquired 11,964 call options on the stock. This is an increase of approximately 1,291% compared to the average volume of 860 call options.

King Digital Entertainment PLC (NASDAQ:KING) last released its earnings data 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.

Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set an “outperform” rating and a $28.00 price target on the stock. Separately, analysts at BMO Capital Markets initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, analysts at Pacific Crest initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set an “outperform” rating and a $21.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. King Digital Entertainment PLC has a consensus rating of “Buy” and an average price target of $24.67.

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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