FPT Corporation has shed nearly 10% in seven days, pulling the stock to its lowest level in months, even as analysts see meaningful upside from current prices.
The price action is the week's defining story. FPT closed Friday at VND 64,700 — down 9.8% on the week and 8.5% over the past month. That puts the stock at a widening discount to the analyst consensus price target of VND 86,286, implying roughly 33% upside on the Street's numbers. No recent analyst target changes are on record to explain the divergence, which makes the gap between price and target more striking, not less.
Valuation multiples tell a mixed story beneath the surface. The trailing P/E has compressed to 10.6x — down modestly over the past 30 days — while the EV/EBITDA ratio of 7.7x has stayed relatively stable. The more notable move is in a trailing earnings-yield metric, which has jumped 58% over the past 30 days, reflecting the sharp price decline hitting cheaper levels against earnings power that has not moved. FPT's factor scores add texture: the company scores in the 86th percentile on dividend quality and the 82nd percentile on EV/EBIT efficiency — both pointing to a business running well — while EPS surprise ranks in the 67th percentile, suggesting a consistent but not exceptional history of beating estimates.
Peer divergence makes the FPT move look more stock-specific than sector-driven. Vietnam-listed peer dropped 2.8% on the week — softer, but far less than FPT's 9.8% decline. on HOSE actually closed the week slightly higher, up 1.1%. Cross-regional IT services names were mixed: AEIN on XTRA gained 1.4% and 8611 on SEHK added 2.1%, while 8611's week was marginally negative. The breadth of peers holding flat or rising while FPT falls sharply suggests the pressure is coming from somewhere specific to FPT rather than from a broad regional tech selloff.
Short interest is not driving this move. FPT carries only around 0.5% of its free float short — a negligible level that rules out any short-pressure narrative. Borrow conditions and availability are not a factor worth dwelling on at these levels. This is a price story, not a positioning story.
The next scheduled earnings date is October 28. Recent post-earnings reactions have been uneven: the July 28 result produced a 4.7% jump on the day and a 15% five-day gain, while the April 29 print saw the stock drift 0.9% lower on the day and 1.5% lower over five days. The August 7 release generated a 1.6% positive day-one reaction before fading to a 3.4% five-day loss. That pattern — positive opens that struggle to hold — will be worth watching as the stock heads into October's print from a position of fresh weakness, with the gap between price and analyst target now the widest it has been in recent months.
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