Fair Isaac (NYSE:FICO) Updates FY24 Earnings Guidance

Fair Isaac (NYSE:FICO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $23.16 for the period, compared to the consensus estimate of $23.75. The company issued revenue guidance of $1.70 billion, compared to the consensus revenue estimate of $1.71 billion.

Fair Isaac Stock Performance

Fair Isaac stock traded up $11.50 during trading hours on Wednesday, reaching $1,600.00. 230,420 shares of the company’s stock traded hands, compared to its average volume of 180,187. Fair Isaac has a fifty-two week low of $810.26 and a fifty-two week high of $1,658.03. The firm’s 50 day moving average is $1,464.02 and its 200-day moving average is $1,326.97. The firm has a market capitalization of $39.54 billion, a price-to-earnings ratio of 83.39, a PEG ratio of 4.28 and a beta of 1.34.

Fair Isaac declared that its Board of Directors has authorized a stock repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FICO. Redburn Atlantic assumed coverage on shares of Fair Isaac in a report on Tuesday, April 16th. They set a neutral rating and a $1,113.00 target price on the stock. Needham & Company LLC reiterated a buy rating and issued a $1,500.00 price target on shares of Fair Isaac in a research report on Tuesday, June 11th. Wolfe Research initiated coverage on shares of Fair Isaac in a research report on Tuesday, July 9th. They issued an outperform rating and a $1,725.00 target price for the company. Finally, Raymond James upped their price objective on Fair Isaac from $1,413.00 to $1,418.00 and gave the stock an outperform rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $1,319.40.

Insider Buying and Selling

In related news, Director Joanna Rees sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $1,350.00, for a total value of $675,000.00. Following the sale, the director now owns 20,618 shares in the company, valued at $27,834,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Joanna Rees sold 500 shares of Fair Isaac stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $1,350.00, for a total transaction of $675,000.00. Following the transaction, the director now directly owns 20,618 shares in the company, valued at $27,834,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Deal sold 13,591 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $1,374.30, for a total transaction of $18,678,111.30. Following the completion of the sale, the executive vice president now directly owns 49,314 shares of the company’s stock, valued at $67,772,230.20. The disclosure for this sale can be found here. Insiders sold a total of 16,014 shares of company stock worth $21,888,518 in the last three months. Insiders own 3.54% of the company’s stock.

About Fair Isaac

Fair Isaac Corporation develops analytic, software, and digital decisioning technologies and services that enable businesses to automate, enhance, and connect decisions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Scores and Software. The Software segment provides pre-configured analytic and decision management solution designed for various business needs or processes, such as account origination, customer management, customer engagement, fraud detection, financial crimes compliance, and marketing, as well as associated professional services.