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King Digital Entertainment PLC (NYSE:KING) was downgraded by research analysts at Piper Jaffray from an “overweight” rating to a “neutral” rating in a report released on Wednesday, TheFlyOnTheWall.com reports. They currently have a $16.00 price objective on the stock, down from their previous price objective of $28.00. Piper Jaffray’s price target suggests a potential downside of 12.09% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank downgraded shares of King Digital Entertainment PLC from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $12.00 price target on the stock, down previously from $27.00. Separately, 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. Finally, 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. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $20.32.

Shares of King Digital Entertainment PLC (NYSE:KING) opened at 13.99 on Wednesday. King Digital Entertainment PLC has a one year low of $15.26 and a one year high of $23.48. The stock’s 50-day moving average is $19.51 and its 200-day moving average is $18.16. The company has a market cap of $4.444 billion and a price-to-earnings ratio of 9.08.

King Digital Entertainment PLC (NYSE:KING) last posted its quarterly earnings results 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.

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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