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Share Name Share Symbol Market Type Share ISIN Share Description
Fd Technologies Public Limited Company LSE:FDP London Ordinary Share GB0031477770 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  55.00 2.49% 2,260.00 2,260.00 2,270.00 2,275.00 2,180.00 2,205.00 15,921 13:03:19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 237.8 18.3 55.9 40.4 625

Fd Technologies Public Share Discussion Threads

Showing 4651 to 4670 of 5300 messages
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DateSubjectAuthorDiscuss
09/10/2018
10:35
I'm in. I didn't read anything on the short note to scare me off. Main argument was about valuation given consultancy exposure. This is fair but even when it was a pure consultancy it traded between 20x and 30x (it does grow etc.). I didn't buy the vendor financing argument, I see fdp as simply taking stakes in companies which it hopes to buy one day if they find an application for their tech. The short note didn't find any issues with these companies themselves other than they were loss making. I would be more worried if these companies were cash shells (like Quindell). I don't buy the argument about weak competitive position (competitors have different databases). Most worrying part was the kpmg relationship. This can be rectified.
brokenbuckles
09/10/2018
08:54
Just to add a little colour to the earnings quality of FDP ,who are achieving CAGR of 15% in their consulting division . Liberum have calulated that the peer group is calculated to achieve a CAGR of 6.4% between 2017/19. This includes companies like Accenture, Navigant etc., The only company coming close to FDP growth rate in consulting revenues in their peer group comparison is Gartner 13% trading on a PE of 43. The software component of Liberum's forecast for FDP is a fraction under 64% for calendar 2019...with a CAGR forecast for 17/19 also of 15%. I do not see any reason on this basis to value First Derivatives as a "service company on a PE of 10". This argument is not a convincing one. NB As far as I am aware Liberum is not stockbroker to FDP.
bootycall
08/10/2018
20:33
Bootycall. I completely agree and they do not have the technology of Kx A rerating is taking place temporarily
moorsie2
08/10/2018
20:25
Moorsie2 look at Burford, Sophos, Blue Prism, etc., For the record, not a fan of WANDisco and Blue Prism is way overrated. I believe the collapse in some of the more highly rated tech stocks is one of the main reasons FDP has not stayed above £30 level. Fund managers are taking profits and sitting on the sidelines.
bootycall
08/10/2018
19:11
Interesting to take a look at the charts of Fevertree and ASOS as well. There is a general market correction taking place with these highly successful companies.. WANDiscso, Numis, XL Media - three more who have dropped a lot in last 5 days
moorsie2
08/10/2018
18:39
flybyknight Thank you for your courteous response. Consultancy revenues obviously vary considerably in their nature. By way of comparison Gartner Group trades on 43 times earnings and their is plenty of consultancy earnings dressed up as subscription income in that baby. hxxps://www.macrotrends.net/stocks/charts/IT/gartner/pe-ratio If you want to be ungenerous, according to Investopedia the average multiple for capital markets focussed service companies in the US was 18.8. FDP has of course much superior compound earnings growth and would attract a much higher rating on that basis.
bootycall
08/10/2018
18:22
Flybyknight I agree as a long term investor I would not be an objective viewer of the company however I am not purporting to to an independent financial journalist! Therefore you are being very disingenuous and should retract that ill thought through point
moorsie2
08/10/2018
18:11
Bootycall That is fair analysis. I dont agree with the number but at least it focus on FDP and not other factor I.e your point has substance I think value of report is that FDP is not true software company as it sits now. So it valuation should not be x40 but neither should it be x10 as a service copmany would be. Kx is a great asset I believe it will over correct and then I buy in more
flybyknight
08/10/2018
18:04
flybyknight Zero hedge has called a chart breakdown on the Russell 2000 index today. The small cap tech sector is imploding . My sources inform me that the FDP bear story was circulating as far back as June. FDP has enjoyed a very high multiple because of consistent delivery of earnings growth. Liberum reiterated at the end of last week its fully diluted EPS forecast for FDP to 2/19 as 94p and 107p for 2/20. I think that a high quality, well managed business in the data analytics sector deserves to be on a multiple of at least 40 times for calendar 2019.. inferring a valuation of £41-£42. I concede in these market conditions the share price could be pushed down to 30 times earnings..but the price is starting to look a bargain...in my opinion. Liberum arrived at a much higher valuation (target price £53) after valuing the consultancy revenues at 3 times sales and the software sales at 6 times and applying a software multiple on the forecast revenues from new verticals to which it applied a 25% discount rate.The nearest comparators, loss making Cloudera and Hortonworks have just merged on a 6.5 times sales. Investors should look at FDP's compound earnings growth and remember this is after expensing material sums on new verticals which have yet to produce revenue. Furthermore, you could argue that FDP has spent north of £5M ? this year on these new verticals suggesting it is trading on close to 26 times core forward earnings for world leading technology. DYOR
bootycall
08/10/2018
17:31
the cash flows look like a consulting company and not like a software company company has historically issues lots of shares imho but i dont see that as a problem much I raise the points months ago as well if you check my post I dont think you are in position to question objectivity of anyone sometimes Have you read report?
flybyknight
08/10/2018
17:16
Flybyknight - what facts and figures from last week? - that the company has issued lots and lots of shares to keep brokers happy - untrue - the KPMG "issue" non story as the KPMG partners leaving had nothing to do with FDP. He insinuated they did - Not declaring his own anger with KPMG and therefore a potential issue with his objectivity I just think that the company staying quiet is not helping their side of the story. They should announce results date tomorrow with a usual trading update
moorsie2
08/10/2018
16:34
Bootycall it clear this is a shake up and that Tom is gaining directly or indirectly somehow. Everhow the points he raised are valid even if I dont like messenger. I dont consider the two non stories today but the facts and figures from last week has merit I consider adding at bottom as well
flybyknight
06/10/2018
15:54
KPMG were fined £3.2m for their involvement in Quindell. The “trolls” were right!
skatersav
06/10/2018
15:53
I’m sorry to be blunt Moorsie, but that’s a terrible example to support your case. Quindell was a fraud! That blogspot was written by a fool. The claim that short sellers do no fundamental analysis could not be more wrong. The exact opposite is true. The final report that destroyed Quindell was written by Gotham City! These are not “trolls”: they are some of the best investigators on the planet. I don’t care if you delude yourself...
skatersav
06/10/2018
14:03
Genuine Q - didn’t the trolls have a point? HTTPS://www.telegraph.co.uk/business/2016/08/30/massive-quindell-writedown-takes-slater--gordon-to-a-a1bn-loss/
windsor430
06/10/2018
13:48
This was written 3 years ago but looks terribly familiar to observers of FDP this week... Shame on the trolls hxxp://financialtrolls.blogspot.com/2015/04/the-mysterious-case-of-quindell.html?m=1
moorsie2
05/10/2018
15:43
23k shares just went through at 3978!? What is that as the so been below 3500 all day. Surely it cannot be a delayed report from yesterday. Could it be the premium needed for a large buy!????
moorsie2
05/10/2018
14:46
super FT all the way
adulion
05/10/2018
13:40
love a chicken nugget
opodio
05/10/2018
13:30
"I saw these boys in Newry. Would rather invest in Friar Tucks" >> Best chicken burgers and shakes in the town. Id take a punt if they went public.
jbmytrade
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