King Digital Getting Crushed; Analysts Respond
King Digital (NASDAQ: KING) shares are falling sharply Wednesday, trading at new all-time lows.
Following an earnings report that met expectations on EPS but fell short revenue, and more importantly lowered the growth outlook sharply, many firms have reduced their ratings.
King Digital was last trading at $13.96, down 23 percent.
- JP Morgan downgraded to Neutral from Overweight, reduced price target from $30 to $18.
- Deutsche Bank downgraded to Hold from Buy.
- Barclays downgraded to Equal-Weight from Overweight.
- Piper Jaffray downgraded to Neutral from Overweight.
Latest Ratings for KING
|Aug 2014||Piper Jaffray||Downgrades||Overweight||Neutral|
|Aug 2014||Deutsche Bank||Downgrades||Buy||Hold|
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