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RBC Capital Reiterates Sector Perform Rating on FactSet Research Systems

Published 04/03/2018, 04:25 PM
Updated 05/29/2024, 06:38 AM
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RBC Capital analysts reiterated a Sector Perform rating and $464.00 price target on FactSet Research Systems (FDS)

The analysts comment "Given the lowered bar, we expect FDS to deliver roughly in-line 3Q24 results; however, the focus is on the 4Q24 ASV ramp. The company may reiterate FY24 ASV guidance given the solid 2H24 sales pipeline; however, the guidance will not be de-risked due to the elongated sales cycle, end-market weakness, and CSUBS merger headwinds. The timing of the CS-UBS headwinds and potential for Wealth cross-selling remains uncertain. We expect FDS to deliver on the margin guidance of 36.5% but likely lower the expectations for FY25 margins to be roughly flat due to Cloud/GenAI Spend."

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