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Equities research analysts at Stifel Nicolaus initiated coverage on shares of King Digital Entertainment PLC (NASDAQ:KING) in a research note issued to investors on Monday, reports. The firm set a “buy” rating and a $22.00 price target on the stock. Stifel Nicolaus’ price target suggests a potential upside of 23.25% from the company’s current price.

King Digital Entertainment PLC (NASDAQ:KING) traded up 5.12% 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 P/E ratio of 8.47. King Digital Entertainment PLC also saw unusually large options trading activity on Friday. Stock investors acquired 11,964 call options on the company. This is an increase of approximately 1,291% compared to the average 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 EPS for the quarter, missing the Thomson Reuters 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 quarterly revenue was up 194.7% on a year-over-year basis.

Separately, analysts at Barclays initiated coverage on shares of King Digital Entertainment PLC in a research note on Monday, May 5th. They set an “overweight” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. King Digital Entertainment PLC has an average rating of “Buy” and an average 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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