Share Name Share Symbol Market Type Share ISIN Share Description
First Derivatives LSE:FDP London Ordinary Share GB0031477770 ORD 0.5P
  Price Change % Change Share Price Shares Traded Last Trade
  -10.00p -0.23% 4,260.00p 47,520 16:35:29
Bid Price Offer Price High Price Low Price Open Price
4,240.00p 4,260.00p 4,270.00p 4,140.00p 4,200.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 151.7 12.5 36.7 116.1 1,093.67

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Date Time Title Posts
22/5/201816:45First Derivatives - deriving growth and profits4,514
22/8/201021:25FDP - Moorsie Thread1
29/10/200912:16FDP - EXplosive stock8
08/1/200714:25First derivatives charts and news 20052
10/3/200623:29If its good enough for him...............1

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First Derivatives Daily Update: First Derivatives is listed in the Software & Computer Services sector of the London Stock Exchange with ticker FDP. The last closing price for First Derivatives was 4,270p.
First Derivatives has a 4 week average price of 3,730p and a 12 week average price of 3,440p.
The 1 year high share price is 4,440p while the 1 year low share price is currently 2,700p.
There are currently 25,673,015 shares in issue and the average daily traded volume is 34,281 shares. The market capitalisation of First Derivatives is £1,093,670,439.
walbrock82: 1). Long-term shareholders in First Derivative will know the company made them lots of money. Since 2010, the share price rose by 2,000%. 2). But, has the shares risen too far? Has the company fundament caught up to valuation? Is FD likely to face a correction? For more analysis,
moorsie2: Share price has now consolidated above 40. Expect to see some more movement to a 45 or so before settling for a few months
moorsie2: Mach100 - Where it goes in 2018 in terms of share price all depends on the traction and success made by Kx in new markets. If Kx is opening new opportunities in new vertical markets and gaining a reputation of being the "goto" system for big data then the valuation could be 60-80 within 12 months. Normal rules of valuation don't apply to technological game changers...
moorsie2: There are three elements to the high pe 1. Continual growth company of circa 20% per year while still growing profits despite the heavy investment for growth 2. Tech sector stock in the hottest area of tech around big data and machine learning 3. The scope of use and uniqueness of Kx Definitely not a share for faint hearted investors as the pe is high at this point. But a share price that will continue to grow with each year of growth of the company
whalehq: Having had a scan of the interims and N1 singers report I’m intrigued however I’m struggling with the valuation from both a FWD PE and PEG perspective. I’ll need to have a better look at KX software but surely it would need to be revolutionary to sustain the current share price?
moorsie2: ok it has taken a week to get to 2750 and not the day I had predicted ;) MMs trying to shake out sellers but its not happening - stock is in demand and very few holders are giving it up. There is a lot of hope of the future being built into this share price now. Lets hope the results in May give very strong and clear guidance on that. Now expect it to be at 30 for results time...
legg96: Surprised the share price movement has been so small. This really is significant news. If this share was on NASDAQ the P/E would be 200+.
aishah: Entry into Retail Analytics market FD (AIM: FDP.L, ESM: FDP.I) announces its entry into the retail analytics market, using its Kx technology as a platform to develop solutions under a team of leading retail technology specialists recently recruited by the Group. The move opens up an addressable opportunity which, according to MarketsandMarkets, is expected to grow at 19% per annum to be valued at more than $5 billion per annum in 2020. The explosion of data volumes in the retail industry is driving demand for technologies that can provide real-time analysis, which Kx, with its pedigree in handling the most demanding data challenges in capital markets, is ideally placed to meet. FD has demonstrated the capabilities of Kx to a number of leading retailers across various market segments and as a result has identified an attractive range of solutions delivering high return on investment for prospective retail customers. These solutions include analytics combining streaming and historical data around point of sale, inventory control and planning, loss prevention and customer insights. Kx's ultra-high performance, enhanced by predictive analytics and machine learning capabilities, provides the ideal next generation platform for retail analytics. Http://
mach100: Moved above £20 bid once again so I expect some buying pre-results. A share split might be useful to improve liquidity now that these are moving up nicely. The share price moves energetically in both directions so there are trading opportunities but it is a well run company that is a niche player in important markets which makes it a solid hold for me.
lovejoy4: Looking at this thread I'm less than impressed with members making bold predictions about the future direction of the share price without the slightest reference to underlying fundamentals, which drives the share price in the long run. Looking through the last annual report uncovers some less than pleasant results: They highlighted that revenue was up 19% but operating income only grew 2%, with administrative expenses up 26%. Operating margins are shrinking year after year and now stand at just 10.1% - only 188k of operating income was added last year. Net income was stated as £15,915m but £9.5m of this was a gain from an asset sale – though looking at footnote 3 this wasn’t even a cash realization, they just decided to revalue their stake in Kx so how this constitutes ‘income’ is baffling, particularly since it appears that most of that value is made up of intangibles. Adjusting the EPS downward for that ‘gain’ and it becomes roughly 30p per share, roughly what it was the previous year on a diluted basis. Shares trade at a multiple approaching 60x earnings which sees incredibly stretched. Company likes to use a non-GAAP measure like adjusted EBITDA but this ignores write-downs in intangibles and share based payments – the former is a legitimate concern since they’re taking on debt and issuing shares to purchase smaller technology companies at vast multiples and booking the assets as ‘goodwill̵7; etc. The economic value of goodwill is questionable particularly in the technology realm where change is rampant and things become obsolete very quickly. Company added nearly £100m in intangible assets last year to the point that net tangible assets are negative £36m. Going back to Kx, in footnote 3 they say that net profit would’ve been £17.1m had it occurred a year earlier, and so would’ve added £1.2m to the bottom line. Valuing a company that adds £1.2m per year at £80.1 seems a bit rich, particularly given that Kx seems to have exhausted its avenues within banking with regard to potential clients within banking and is now seeking clients in other sectors (little to no tangible news / contract win announcements on this topic all year BTW). On page 54 they state that the Prelytix acquisition (which cost roughly £6m) would have resulted in net income of £15,994 had it occurred a year previous – so in effect they paid £6m for a company that would’ve added £79 to the bottom line? Let’s hope the recent acquisitions are more valuable. It seems very strange that as a supposed growth company it pays a dividend year after year, £2.5m per year at this point – wouldn’t this cash be better spent on expansion? It could certainly be used in place of debts and share issuances – more share issuances mean more dividends must be paid – completely counter intuitive. Page 87 provides a potential answer – of the £2.5m total dividend pool the CEO received almost £1m – certainly more tax efficient than taking salary but puts his own interests above the shareholders in this case. On a final note, shareholders buying into the ‘big data’ story need to be realistic – this is essentially an IT consultancy company with a ‘big data’ wing – around 66% of revenue still comes directly from consulting, which tends to be negatively correlated with the financial industry at large, longer term any uptick in the financial sector will see banks hiring full time employees en masse one again, which doesn’t bode well for firms flaunting temporary contactors on expensive daily rates. Disclosure: No position.
First Derivatives share price data is direct from the London Stock Exchange
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