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Deutsche Bank began coverage on shares of King Digital Entertainment PLC (NASDAQ:KING) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $27.00 price target on the stock. Deutsche Bank’s price target would indicate a potential upside of 51.26% from the company’s current price.

Shares of King Digital Entertainment PLC (NASDAQ:KING) traded up 5.12% during mid-day trading on Monday, hitting $17.85. 3,481,742 shares of the company’s stock traded hands. King Digital Entertainment PLC has a one year low of $15.26 and a one year high of $21.39. The stock’s 50-day moving average is $16.7 and its 200-day moving average is $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 target of unusually large options trading on Friday. Stock traders bought 11,964 call options on the stock. This represents an increase of approximately 1,291% compared to the typical volume of 860 call options.

King Digital Entertainment PLC (NASDAQ:KING) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing the analysts’ 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. King Digital Entertainment PLC’s revenue was up 194.7% compared to the same quarter last year.

A number of other firms have also recently commented on KING. Analysts at Piper Jaffray initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set a “neutral” rating and a $19.00 price target on the stock. Separately, analysts at RBC Capital initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set an “overweight” rating and a $30.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price 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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