Frontier Developments (LON:FDEV) Stock Price Breaks Above 50 Day Moving Average – What’s Next?

Frontier Developments plc (LON:FDEV)’s stock price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of GBX 559.18 and traded as high as GBX 598. Frontier Developments shares last traded at GBX 586.40, with a volume of 550,646 shares changing hands.

Wall Street Analysts Forecast Growth

FDEV has been the subject of several recent research reports. Shore Capital Group upgraded Frontier Developments to a “buy” rating and set a GBX 650 price target for the company in a research report on Thursday, November 5th. Berenberg Bank reissued a “buy” rating and set a GBX 600 price objective on shares of Frontier Developments in a research note on Wednesday, September 9th. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 618.33.

Frontier Developments Trading Up 7.8%

The stock has a fifty day moving average of GBX 559.18 and a 200-day moving average of GBX 444.51. The company has a market cap of £198.54 million, a PE ratio of 8.38, a PEG ratio of 2.11 and a beta of 0.03. The company has a debt-to-equity ratio of 16.51, a quick ratio of 2.61 and a current ratio of 3.50.

Frontier Developments (LON:FDEV) last released its earnings results on Wednesday, September 9th. The company reported GBX 74.60 earnings per share for the quarter. Frontier Developments had a return on equity of 27.12% and a net margin of 26.03%. Sell-side analysts anticipate that Frontier Developments plc will post 7.09 EPS for the current fiscal year.

Insider Activity at Frontier Developments

In other news, insider Alex Bevis sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of GBX 516, for a total value of £258,000. Insiders own 39.02% of the company’s stock.

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.