FactSet Reports Strong Q1 Growth Despite Stock Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2024
0mins
Should l Buy FDS?
Source: earning
FactSet Research Systems Inc's stock fell by 5.11% today, hitting a 5-day low, even as the broader market showed strength with the Nasdaq-100 up 1.20% and the S&P 500 up 0.77%.
This decline occurs despite the company's recent report of a 6.9% revenue growth to $607.6 million in Q1, driven by strong demand from institutional clients. Additionally, FactSet's adjusted EPS increased to $4.51, reflecting its ability to maintain profitability amid market volatility. The company also announced an expansion of its share repurchase program, indicating confidence in its financial strength.
The implications of this price movement suggest that while FactSet is performing well operationally, the stock's decline may be attributed to sector rotation as investors reassess their positions in light of broader market trends.
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Analyst Views on FDS
Wall Street analysts forecast FDS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FDS is 295.91 USD with a low forecast of 253.00 USD and a high forecast of 326.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
1 Buy
7 Hold
4 Sell
Hold
Current: 209.180
Low
253.00
Averages
295.91
High
326.00
Current: 209.180
Low
253.00
Averages
295.91
High
326.00
About FDS
FactSet Research Systems Inc. is a global financial digital platform and enterprise solutions provider. The Company's solutions deliver financial data, analytics, and open technology to global clients, including individual users. Its segments include the Americas, EMEA and Asia Pacific. It provides financial data and market intelligence on securities, companies, industries and people to enable its clients to research investment ideas and analyze, monitor and manage their portfolios. It supports various workflows, including investment research, quantitative research, portfolio management and trading, portfolio analytics, wealth management, ESG investing solutions, industry analysis and data solutions. It provides open and flexible technology offerings, including a configurable desktop and mobile platform, and comprehensive data feeds. Its technology also includes LogoIntern, a workflow tool to streamline the task of adding, organizing, and formatting logos into pitch decks.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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