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King Digital Entertainment PLC (NYSE:KING) was downgraded by research analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a report released on Wednesday, TheFlyOnTheWall.com reports. They currently have a $12.00 price objective on the stock, down from their previous price objective of $27.00. Deutsche Bank’s target price suggests a potential downside of 34.07% from the stock’s previous close.

King Digital Entertainment PLC (NYSE:KING) opened at 13.98 on Wednesday. King Digital Entertainment PLC has a one year low of $15.26 and a one year high of $23.48. The stock has a 50-day moving average of $19.51 and a 200-day moving average of $18.16. The company has a market cap of $4.441 billion and a P/E ratio of 9.08.

King Digital Entertainment PLC (NYSE:KING) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.02. The company had revenue of $593.60 million for the quarter, compared to the consensus estimate of $455.50 million.

Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays downgraded shares of King Digital Entertainment PLC from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. They now have a $16.00 price target on the stock, down previously from $24.00. Separately, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of King Digital Entertainment PLC in a research note on Wednesday. They now have a $20.00 price target on the stock, down previously from $25.00. Finally, analysts at JPMorgan Chase & Co. downgraded shares of King Digital Entertainment PLC from an “overweight” rating to a “neutral” rating in a research note on Wednesday. They now have a $18.00 price target on the stock, down previously from $30.00. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $20.32.

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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