This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

King Digital Bulls Send Investors Chasing Mobile Gaming Stocks: StockTwits

NEW YORK (TheStreet) -- Analysts backed King Digital (KING) Monday morning. And investors are betting other mobile gaming stocks will ride King's coattails.

$KING well, if they all are that much excited about King, they really rreally rrrreallllyyyy should buy $GLUU for its figs. ($ZNGA)

-- Kinji Watanabe (@Kinji) May. 5 at 06:20 AM

Long $NQ $GLUU $KING. Volatile day for me.

-- gagan rawal (@jawdoc19) May. 5 at 08:36 AM

This morning, analysts at Bank of America, Deutsche Bank, BMO Capital Markets, Pacific Crest, RBC Capital Markets, Barclays, Cowen and JPMorgan all initiated coverage of the company behind the popular Candy Crush game with a buy rating or equivalent. Analysts at Piper Jaffray and Sterne Agee came out with a neutral rating, according to the Analyst Ratings Network. Price targets range from $21 per share to $31 per share.

$KING wtf, 10 banks upgrated this morning to strong buy PT 21-30$..!!!

-- grigorios papaioannou (@gregpap) May. 5 at 04:47 AM

The stock opened nearly 2% higher Monday and kept climbing. The bullish consensus was a real coup for early King investors, who have watched the stock tumble as much as 25% below its March IPO price of $22.50 per share. The stock now trades around $17.56.

When King debuted on the NYSE, investors said bankers did King a disservice by slapping such a high price on shares. The $7 billion valuation implied by King's IPO price would have made the company -- known for one hit game, Candy Crush Saga --worth just 20% less than gaming giant EA (EA - Get Report).

But King's haircut has made the stock more attractive. It has a $5.53 billion market cap and trades at 10.2 times trailing 12-month earnings. King sentiment is 60% bullish, according to StockTwits' analytics.

King will report its first-quarter results on Wednesday, May 7, before the open. Analysts said that, although Candy Crush may have peaked, the company still makes a ton of money off of the game, which is free to start and charges for extra lives. Another King game, Farm Heroes Saga, is also gaining traction.

$KING Stop this "One trick pony" sentiment. Candy Crush has plenty of room to run. Next 2 qtrs are guaranteed. Money, money...and more money

-- Michael B (@Mbrillo1) May. 5 at 10:05 AM

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
KING $18.00 0.00%
EA $61.85 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs