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Analyst: Kim Kardashian Is Killing 'candy Crush' - Yahoo Finance

In its report, Deutsche Bank downgraded King from "buy" to "hold" and cut its price target on the stock from $27 to $12 dollars. From the report: Kings 2Q saga started with a bang but ended with a whimper, as the company saw a step down in monetization across its portfolio late in the quarter. Management struggled to explain this decline, though seasonality and the World Cup seem to have played a role. Despite a relatively stable network size, the company saw a geographic user shift away from the US towards lower monetizing regions. The number of paying users fell 12% Q/Q to 10.4M in 2Q from 11.9M in 1Q, though increased MGABPPU [Monthly Gross Average Bookings per Paying User] helped offset some of this decline. Competition within casual gaming is intense, with Kim Kardashian: Hollywood and 2048 going after the same demographics. In other words, King says it's losing share to cheaper, equally addictive games.


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