King Digital Giving Back Some Of Monday's Big Gains

King Digital Entertainment KING shares are down about two percent Tuesday', giving back some of its recent big gains.

The maker of the popular Candy Crush computer game had been up Monday as much as 17 percent on at least a couple of positive analysts' notes.

The shares traded recently at $20.14, about 10 percent below its March IPO price of $22.50 per share.

Cowen's Doug Creutz on Monday said King is a good value at current levels and suggested that investors generally are "too pessimistic" on mobile gaming.

Also Monday, Wedbush 's Michael Pachter reiterated an Outperform rating and $25 target on King.

In a widely reported note, Pachter said although Wall Street expects King's sales to decline, he forecasts stabilization in the first and second quarters, with growth resuming thereafter.

King has traded in a range of $15.26 to $21.39 per share since its IPO.