Frontier Developments (LON:FDEV) Stock Price Up 9.2% – Still a Buy?

Frontier Developments plc (LON:FDEV) shares shot up 9.2% during mid-day trading on Thursday . The company traded as high as GBX 454 and last traded at GBX 446. Approximately 424,826 shares traded hands during mid-day trading, an increase of 158% from the average session volume of 164,971 shares. The stock had previously closed at GBX 408.50.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FDEV shares. Berenberg Bank reissued a “buy” rating and set a GBX 600 price target on shares of Frontier Developments in a research report on Wednesday, June 10th. Shore Capital Group reaffirmed a “buy” rating and issued a GBX 650 price target on shares of Frontier Developments in a report on Wednesday, June 10th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 618.75.

Frontier Developments Price Performance

The company has a quick ratio of 2.61, a current ratio of 2.83 and a debt-to-equity ratio of 19.71. The company has a 50 day simple moving average of GBX 428.24 and a 200-day simple moving average of GBX 401.47. The stock has a market cap of £154.94 million, a price-to-earnings ratio of 8.96, a PEG ratio of 2.11 and a beta of 0.03.

Insider Transactions at Frontier Developments

In related news, insider Alex Bevis sold 5,084 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of GBX 404, for a total transaction of £20,539.36. 38.10% of the stock is owned by company insiders.

Frontier Developments Company Profile

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.