FactSet Research Systems Inc. (FDS) is gearing up to release its fourth-quarter earnings results on Thursday, September 19th, before the market opens. Investors are eager to see how the Norwalk, Connecticut-based financial data and software company performed during the final months of 2023.
Analysts are projecting earnings of $3.62 per share for the quarter, representing a significant increase from the $2.93 per share reported in the same period last year. Revenue is anticipated to reach $546.81 million, compared to $535.8 million in the prior year. These figures suggest continued growth and stability for FactSet despite the challenging macroeconomic environment.
In a notable development, FactSet appointed Kristina Karnovsky as Head of the Dealmakers and Wealth Group on August 5th. This appointment signifies a strategic focus on expanding the company’s reach within the financial services industry.
FactSet’s stock closed at $445.36 on Friday, reflecting a 1.3% gain. To gauge the sentiment among Wall Street analysts, let’s examine the latest ratings and price targets for FDS:
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Morgan Stanley:
Analyst Toni Kaplan maintained an Underweight rating with a raised price target of $355 from $350 on June 24th. Kaplan, boasting a 74% accuracy rate, appears cautiously optimistic about the company’s prospects.*
RBC Capital:
Analyst Ashish Sabadra reiterated a Sector Perform rating with a price target of $464 on June 24th. Sabadra, with a 70% accuracy rate, suggests a neutral outlook on the stock.*
Wolfe Research:
Analyst Scott Wurtzel initiated coverage of FDS with an Underperform rating and a price target of $430 on April 11th. Wurtzel’s accuracy rate stands at 69%, indicating a more pessimistic view of the company’s future performance.*
BMO Capital:
Analyst Jeffrey Silber maintained a Market Perform rating and increased the price target from $447 to $458 on March 25th. Silber’s accuracy rate of 73% suggests a balanced stance on the stock.*
Stifel:
Analyst Shlomo Rosenbaum reiterated a Hold rating with a price target of $469 on March 22nd. Rosenbaum, with a 72% accuracy rate, seems to be leaning towards a neutral position.The varying opinions from analysts offer a diverse perspective on FactSet’s future performance. As we approach the earnings release, investors will closely examine the company’s financial results and management’s guidance for insights into its growth trajectory in the coming months.
