BMO Capital analyst Jeffrey Silber maintains FactSet Research Systems with a Market Perform
BMO Capital analyst Jeffrey Silber maintains FactSet Research Systems with a Market Perform and raises the price target from $447 to $458.
News & Forecast & Price target & Analyst Ratings & Estimates
FactSet (NYSE:FDS | NASDAQ:FDS) helps the financial community to see more, think bigger, and work better. Our digital platform and enterprise solutions deliver financial data, analytics, and open technology to nearly 8,000 global clients, including almost 190,000 individual users. Clients across the buy-side and sell-side as well as wealth managers, private equity firms, and corporations achieve more every day with our comprehensive and connected content, flexible next-generation workflow solutions, and client-centric specialized support. As a member of the S&P 500, we are committed to sustainable growth and have been recognized amongst the Best Places to Work in 2023 by Glassdoor as a Glassdoor Employees’ Choice Award winner. Learn more at www.factset.com and follow us on Twitter and LinkedIn.
BMO Capital analyst Jeffrey Silber maintains FactSet Research Systems with a Market Perform and raises the price target from $447 to $458.
Barclays analyst Manav Patnaik downgrades FactSet Research Systems from Overweight to Equal-Weight and lowers the price target from $480 to $460.
RBC Capital analyst Ashish Sabadra reiterates FactSet Research Systems (NYSE:FDS) with a Sector Perform and maintains $464 price target.
Goldman Sachs analyst George Tong maintains FactSet Research Systems with a Sell and raises the price target from $377 to $419.
FactSet Research Systems’ (FDS) wealth cancellation that led to Q2 annual subscription value miss will likely weigh on the stock, RBC Capital Markets said in a note emailed Friday. The company said the loss was a one-off event, but RBC said it expects headwinds from client services to affect the Q3 ASV, adding that investors are worried about potential additional client cancellations. “[FactSet] lowered ASV guidance to the lower end but highlighted a strong pipeline and 4Q23 ASV ramp,” RBC said. However, the ASV guidance for the fiscal second half remains uncertain, which is notable due to prolonged sales cycles, subdued financial services hiring, heightened erosion in banking, lower retention in private equity and venture capital, and increased competition, it added. “[FactSet] is seeing a healthier pipeline in [second half] vs [first half] made up of several 6-7 figure deals,” RBC said, adding that the company is experiencing robust performance…
The following is a summary of the FactSet Research Systems Inc. (FDS) Q2 2024 Earnings Call Transcript: Financial Performance: FactSet recorded Q2 organic ASV plus professional services growth of 5.4% year-over-year, with an adjusted operating margin of 38.3% and adjusted diluted EPS of $4.22. GAAP revenue for the quarter rose by 6% to $546 million, while the GAAP operating expenses increased by 5%. An improvement of 130 basis points was noted in the adjusted operating margin to 38.3% and adjusted diluted EPS rose by 11% to $4.22. Q2 closed with more than 8,000 clients, and user count was 206,478. However, free cash flow decreased by 17% to $122 million compared to the same quarter in the prior year. Business Progress: FactSet’s client retention remained strong at 90%, with ASV retention higher than 95%, despite purchasing decisions being delayed due to client caution. Positive momentum is being seen with corporates within…
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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target price by $10 to $535, 30.2x our FY 25 (Aug.) EPS estimate, which is higher than the company’s 10-year historical average of 26.6x, given strong growth prospects. We increase our FY 24 adjusted EPS by $0.13 to $16.31 and reduce FY 25’s by $0.35 to $17.71. FDS reported Feb-Q adjusted EPS of $4.22 vs. $3.80 a year ago, $0.34 above consensus on revenue that came in at consensus. Top-line growth of 6% disappointed in the quarter as deceleration was identified in the Americas (+6%), EMEA (+5%), and Asia-Pacific (+5%). Additionally, user count fell modestly from the previous quarter to 206K, the first decline since Q1 20. However, we don’t see the weakness as a sign that FDS has lost its competitive edge,…
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FactSet Reports Results for Second Quarter 2024 — Q2 GAAP revenues of $545.9 million, up 6.0% from Q2 2023. — Organic Q2 ASV plus professional services of $2,209.5 million, up 5.4% year over year. — Q2 GAAP operating margin of 33.3%, up approximately 50 bps year over year, and adjusted operating margin of 38.3%, up approximately 130 bps from the prior year. — Q2 GAAP diluted EPS of $3.65, up 8.0% from the prior year, and adjusted diluted EPS of $4.22, up 11.1% year over year. — Top-line growth expected at the lower end of the previously published guidance ranges for the fiscal year: ASV plus professional services growth of $110 – $150 million and GAAP revenues between $2,200 – $2,210 million. NORWALK, Conn., March 21, 2024 (GLOBE NEWSWIRE) — FactSet (“FactSet” or the “Company”) (NYSE:FDS) (NASDAQ:FDS), a global financial digital platform and enterprise solutions provider, today announced results for…
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FactSet Research Sees FY24 Adj EPS $15.60-Adj EPS $16.00.
By Will Feuer FactSet Research Systems posted higher revenue for its fiscal second quarter, but said it expects revenue to be at the low end of its guidance for the full year after losing some banking and wealth-management users. The Norwalk, Conn.-based company, whose offerings include analytics and data products, reported a fiscal second quarter profit of $140.9 million, or $3.65 a share, for the three months ended Feb. 29, compared with $131.6 million, or $3.38 a share, in the comparable period a year earlier. Stripping out one-time items, adjusted earnings were $4.22 a share. Analysts surveyed by FactSet expected $3.90 a share. Revenue rose 6% to $545.9 million. Analysts surveyed by FactSet expected $546.8 million. The company said revenue growth was driven by asset owners, corporates, hedge funds and private equity and venture capital clients. User count fell by 605 to 206,478 over the past three months, weighed down…
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