![]() King Digital’s IPO was worst to date in 2014, primarily due to its overdependence on Candy Crush Saga, a free to download game available on Google ( GOOGL) and Apple ( AAPL) app stores. ![]() Although Candy Crush Saga bookings are expected to decline, the analyst believes that new games will be able to offset it in the near term. The analyst also noted that “upcoming game launches will also lead to growth and revenue diversification”.Īnother analyst, Michael Pachter, of Wedbush Securities gave positive comments buoyed by strong bookings and profit of flagship game Candy Crush Saga, which accounted for 67.0% of the company’s gross total bookings in the first quarter. Per Bloomberg, JPMorgan & Chase analyst Doug Anmuth in a recent note to investors said that King Digital’s strong estimated free cash flow ($800.0 million in fiscal 2014) will enable it to return cash to investors. This was King Digital’s biggest one-day gain since its Initial Public offering ( IPO) in March this year. Candy Crush maker King Digital Entertainment’s ( KING) shares surged 15.13% ($2.70) to close at $20.55 on Jun 30, 2014, following positive comments from a couple of analysts.
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