Berenberg Bank Raises Frontier Developments (LON:FDEV) Price Target to GBX 450

Key Points

• Berenberg Bank has raised its price target for Frontier Developments from GBX 330 to GBX 450, indicating a potential upside of 18.19% from the current price.
• Shore Capital has also maintained a "buy" rating on the stock, contributing to an overall investor sentiment of a "Moderate Buy" with an average target price of GBX 375.
• Insider trading activity shows that significant shares have been sold recently, with insiders collectively offloading 444,560 shares valued at approximately £165 million in the last ninety days.

Frontier Developments (LON:FDEV - Get Free Report) had its price objective lifted by research analysts at Berenberg Bank from GBX 330 to GBX 450 in a research note issued on Wednesday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's target price suggests a potential upside of 18.19% from the company's current price.

Separately, Shore Capital restated a "buy" rating on shares of Frontier Developments in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 375.

Frontier Developments Trading Down 1.1%

FDEV opened at GBX 380.75 on Wednesday. The company has a current ratio of 2.93, a quick ratio of 2.61 and a debt-to-equity ratio of 27.70. The stock has a market capitalization of £142.17 million, a PE ratio of 924.15, a PEG ratio of 2.11 and a beta of 0.03. Frontier Developments has a 1-year low of GBX 175.60 and a 1-year high of GBX 397. The firm has a 50-day moving average price of GBX 368.20 and a two-hundred day moving average price of GBX 274.01.

Frontier Developments (LON:FDEV - Get Free Report) last posted its quarterly earnings data on Wednesday, September 10th. The company reported GBX 42.40 earnings per share for the quarter. Frontier Developments had a negative net margin of 24.05% and a negative return on equity of 30.43%. As a group, equities analysts anticipate that Frontier Developments will post 7.0917759 earnings per share for the current fiscal year.

Insider Activity at Frontier Developments

In other news, insider David John Braben sold 8,605 shares of Frontier Developments stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of GBX 377, for a total transaction of £32,440.85. In the last ninety days, insiders have sold 444,560 shares of company stock worth $165,459,839. 37.66% of the stock is owned by 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.

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