Shore Capital Reaffirms Buy Rating for Frontier Developments (LON:FDEV)
by Sarita GarzaShore Capital restated their buy rating on shares of Frontier Developments (LON:FDEV) in a research note published on Tuesday, Digital Look reports.
Other analysts also recently issued research reports about the stock. Citigroup reissued a buy rating on shares of Frontier Developments in a report on Tuesday. Berenberg Bank reissued a buy rating and set a GBX 1,600 ($21.05) price objective on shares of Frontier Developments in a report on Monday, January 13th. Credit Suisse Group boosted their price objective on shares of Frontier Developments from GBX 1,520 ($19.99) to GBX 1,650 ($21.70) and gave the stock an outperform rating in a report on Friday, February 7th. Peel Hunt reissued a buy rating on shares of Frontier Developments in a report on Monday, February 3rd. Finally, Liberum Capital reissued a buy rating on shares of Frontier Developments in a report on Wednesday, February 5th. Seven analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and an average price target of GBX 1,557.17 ($20.48).
FDEV stock opened at GBX 1,282 ($16.86) on Tuesday. The company has a market cap of $498.85 million and a P/E ratio of 29.68. Frontier Developments has a 52 week low of GBX 790 ($10.39) and a 52 week high of GBX 1,452 ($19.10). The company’s 50-day moving average price is GBX 1,318.08 and its 200 day moving average price is GBX 1,136.30.
In related news, insider David John Braben sold 1,250,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of GBX 1,200 ($15.79), for a total transaction of £15,000,000 ($19,731,649.57).
About Frontier Developments
Frontier Developments plc develops and publishes video games for the interactive entertainment sector in the United Kingdom and internationally. It develops games across various platforms using its cross platform technology. The company was founded in 1994 and is based in Cambridge, the United Kingdom.
Further Reading: The limitations of an equal weight rating