Fair Isaac (NYSE:FICO) Stock Price Target Cut by Needham & Company LLC

Fair Isaac (NYSE:FICO) had its target price reduced by stock analysts at Needham & Company LLC from $1,100.00 to $925.00 in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC‘s target price indicates a potential upside of 31.67% from the company’s current price.

Several other brokerages also recently weighed in on FICO. JPMorgan Chase & Co. reduced their price target on Fair Isaac from $1,530.00 to $900.00 and set a “neutral” rating on the stock in a report on Monday, October 26th. Wells Fargo & Company set a $650.00 target price on Fair Isaac in a research report on Thursday. UBS Group lowered their target price on shares of Fair Isaac from $1,100.00 to $942.00 and set a “neutral” rating for the company in a research note on Monday, October 26th. BMO Capital Markets decreased their price objective on shares of Fair Isaac from $1,150.00 to $897.00 and set an “outperform” rating for the company in a report on Monday, October 26th. Finally, Citigroup reissued a “neutral” rating on shares of Fair Isaac in a research report on Tuesday, October 27th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $933.69.

Fair Isaac Stock Down 3.0%

Shares of FICO opened at $702.52 on Thursday. The business has a fifty day moving average of $845.21 and a 200 day moving average of $1,115.37. The company has a market cap of $15.17 billion, a PE ratio of 20.29, a P/E/G ratio of 0.88 and a beta of 1.36. Fair Isaac has a 52-week low of $586.05 and a 52-week high of $1,858.91.

Fair Isaac (NYSE:FICO) last posted its quarterly earnings data on Wednesday, November 4th. The technology company reported $11.10 earnings per share for the quarter, beating analysts’ consensus estimates of $10.69 by $0.41. The business had revenue of $657.05 million for the quarter, compared to analysts’ expectations of $651.73 million. Fair Isaac had a net margin of 34.05% and a negative return on equity of 32.51%. The business’s revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.74 earnings per share. As a group, research analysts anticipate that Fair Isaac will post 36.77 earnings per share for the current fiscal year.

Institutional Trading of Fair Isaac

A number of hedge funds have recently added to or reduced their stakes in FICO. AlphaCore Capital LLC raised its holdings in shares of Fair Isaac by 101.0% in the 3rd quarter. AlphaCore Capital LLC now owns 388 shares of the technology company’s stock valued at $230,000 after purchasing an additional 195 shares in the last quarter. Fulcrum Asset Management LLP boosted its stake in shares of Fair Isaac by 509.0% during the third quarter. Fulcrum Asset Management LLP now owns 743 shares of the technology company’s stock valued at $459,000 after purchasing an additional 621 shares in the last quarter. Candriam S.C.A. increased its holdings in Fair Isaac by 287.4% during the third quarter. Candriam S.C.A. now owns 8,898 shares of the technology company’s stock valued at $5,291,000 after buying an additional 6,601 shares during the period. Pictet Asset Management Holding SA increased its holdings in Fair Isaac by 11.6% during the third quarter. Pictet Asset Management Holding SA now owns 14,370 shares of the technology company’s stock valued at $8,514,000 after buying an additional 1,496 shares during the period. Finally, Alps Advisors Inc. raised its stake in Fair Isaac by 1.2% in the third quarter. Alps Advisors Inc. now owns 1,193 shares of the technology company’s stock worth $707,000 after buying an additional 14 shares in the last quarter. 85.75% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Fair Isaac

Here are the key news stories impacting Fair Isaac this week:

• Positive Sentiment: FICO reported quarterly EPS of $11.10, ahead of estimates, and revenue of $657.05 million, also above consensus. Revenue rose 27.4% year over year, while EPS increased from $7.74 a year earlier. Zacks earnings article
• Positive Sentiment: Commercial momentum also received support from new lenders joining FICO’s Preferred Program and a regional lender upgrading to its Auto Score 10. Preferred Program lenders announcement
• Negative Sentiment: FICO declined to provide guidance as it transitions mortgage-origination pricing from a flat fee to a customer-specific structure. Investors may be concerned about how the change affects revenue visibility and customer response. Wall Street Journal article on guidance and pricing
• Negative Sentiment: Barclays cut its price target to $800 from $875, and JPMorgan lowered its target to $800 from $900. The reductions add a cautious signal, even though both targets remain above FICO’s $702.53 Thursday opening price. Barclays price-target update JPMorgan price-target update

Fair Isaac Company Profile

Fair Isaac Corporation, commonly known as FICO, develops analytics and decision-management software used by businesses to assess risk, detect fraud and make customer-related decisions. The company is best known for the FICO Score, a credit-risk scoring system used by lenders and other financial institutions to evaluate consumer creditworthiness.

FICO’s offerings include credit scoring solutions, decisioning platforms, fraud-detection tools, customer management software and predictive analytics.