Frontier Developments (LON:FDEV) Share Price Breaks Above Fifty Day Moving Average – Here’s Why

Frontier Developments plc (LON:FDEV)’s stock price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of GBX 465.04 and traded as high as GBX 628.89. Frontier Developments shares last traded at GBX 627, with a volume of 122,628 shares trading hands.

Analysts Set New Price Targets

FDEV has been the subject of a number of research reports. Berenberg Bank restated a “buy” rating and set a GBX 600 price objective on shares of Frontier Developments in a research report on Wednesday, September 9th. Shore Capital Group upgraded Frontier Developments to a “buy” rating and set a GBX 650 target price on the stock in a report on Wednesday, September 9th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 618.75.

Frontier Developments Stock Performance

The company has a current ratio of 3.50, a quick ratio of 2.61 and a debt-to-equity ratio of 16.51. The firm has a market capitalization of £213.96 million, a PE ratio of 12.37, a PEG ratio of 2.11 and a beta of 0.03. The firm’s fifty day moving average price is GBX 468.97 and its 200 day moving average price is GBX 418.87.

Frontier Developments (LON:FDEV) last announced its quarterly earnings data on Wednesday, September 9th. The company reported GBX 74.60 earnings per share (EPS) for the quarter. Frontier Developments had a return on equity of 27.12% and a net margin of 26.03%. On average, research analysts anticipate that Frontier Developments plc will post 7.0917759 earnings per share for the current year.

Insider Activity

In related news, insider Alex Bevis sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of GBX 516, for a total value of £258,000. 38.10% of the stock is currently owned by corporate insiders.

About Frontier Developments

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality.

At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world’s biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players.

We have created games that have defined genres, been critically acclaimed, and reached many millions of players.