FactSet Research Systems Inc. (FDS) is set to report first quarter earnings before markets open on Thursday, December 18, and Wall Street's most accurate analysts have been busy recalibrating their expectations.
The Norwalk, Connecticut-based financial data provider is expected to deliver earnings of $4.37 per share, flat compared to the same period last year. Revenue projections tell a better story, with analysts forecasting $600.45 million versus $568.67 million in the prior year quarter.
But here's the thing: most of the recent analyst activity has been decidedly cautious. September turned into a rough month for FactSet when the company issued fiscal 2026 earnings guidance that came in below Wall Street's expectations. That announcement triggered a wave of downgrades and price target cuts that have reshaped the investment narrative around the stock.
Shares closed Tuesday at $293.00, up a modest 0.3% for the session.
What the Smart Money is Saying
Let's break down how Wall Street's top-rated analysts are thinking about FactSet heading into the print:
Wells Fargo analyst Jason Haas, who maintains a 64% accuracy rating, kept his Underweight stance on December 5 while trimming his price target from $296 to $260. Not exactly a ringing endorsement.
UBS analyst Alex Kramm took a contrarian view back in September, upgrading the stock from Neutral to Buy despite cutting his price target dramatically from $480 to $425. With a 69% accuracy rate, Kramm apparently sees value where others see concern.
BMO Capital's Jeffrey Silber (69% accuracy) maintained his Market Perform rating on September 19 but slashed his target from $452 to $324. That's a 28% reduction, reflecting the recalibration happening across the Street.
Morgan Stanley's Toni Kaplan, with a 61% accuracy record, stuck with her Underweight rating while cutting the target from $393 to $293 on the same day. Her new target essentially matches where the stock closed Tuesday.
Stifel analyst Shlomo Rosenbaum (69% accuracy) kept his Hold rating but lowered expectations significantly, dropping his target from $464 to $372 in mid-September.
The pattern is clear: even the analysts who know this stock best have reset their expectations considerably. Whether Thursday's earnings report validates their caution or proves the pessimists wrong will be the question on every investor's mind.
