The firm right now has an Equal Weight rating on the stock. However, second quarter revenue dipped 18% year-over-year to $490 million.
The company’s shares slipped 8.2 per cent in extended trading on Thursday.
On a technical level the stock has a 50 Day Moving Average of 15.18. Over the long run, the price of a stock will generally go up in lock step with its earnings (assuming the P/E ratio is constant). King Digital Entertainment PLC has a 1-year low of $10.68 and a 1-year high of $18.00.
King Digital Entertainment PLC (NYSE:KING) released its quarterly earnings data on Thursday.
Nevertheless, this beat analysts’ expectations of $513 million. Shares of KING have fallen 11% so far this year, while Zynga is up about half a percent. Although King Digital’s revenue and adjusted (earnings per share) EPS came in slightly above the consensus estimate, the massive decline the company witnessed in its key metrics was enough to attract negative coverage from some investment firms. The effect is a much stronger, more diversified business; something that was evident in the company’s most recent quarter.
RBC Capital Markets downgraded King Digital to sector perform from outperform, while J.P. Morgan cut its recommendation to neutral from overweight, according to a Briefing.com report. The stock appeared -13.39% below its 52-week highs and is up +1.33% for the last five trades.
King Digital Entertainment plc (NYSE:KING): The mean short term price target for King Digital Entertainment plc (NYSE:KING) has been established at $19 per share. Finally, Pacific Crest restated an equal weight rating on shares of King Digital Entertainment PLC in a research report on Wednesday, July 29th. 6 analysts have added the shares in their list of strong buys. This increase is because King develops several versions of games for different regions of the world, and also for different mobile operating systems.
The company also reported a decrease in its mobile and web platforms and in less engaged payers, i.e. those who pay in only one game.
Mascots dressed as characters from the mobile video game “Candy Crush Saga” pose outside the New York Stock Exchange March 26, 2014.
