FactSet Research Systems Inc.
FDS · NYSE
Analyst ratings
sell · 14 ratings
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| July 6, 2026 | Barclays | Maintains | Underweight | $216.00 |
| July 2, 2026 | Jefferies | Maintains | Hold | $253.00 |
| July 2, 2026 | B of A Securities | Maintains | Underperform | $210.00 |
| July 2, 2026 | Deutsche Bank | Maintains | Hold | $280.00 |
| July 2, 2026 | RBC Capital | Reiterates | Sector Perform | $240.00 |
| July 2, 2026 | UBS | Maintains | Buy | $340.00 |
| July 2, 2026 | Wolfe Research | Maintains | Underperform | $240.00 |
| July 2, 2026 | Evercore ISI Group | Maintains | In-Line | $275.00 |
| July 2, 2026 | BMO Capital | Maintains | Market Perform | $275.00 |
| July 2, 2026 | Morgan Stanley | Maintains | Equal-Weight | $230.00 |
| July 2, 2026 | Wells Fargo | Maintains | Underweight | $210.00 |
| May 27, 2026 | RBC Capital | Maintains | Sector Perform | $240.00 |
| April 1, 2026 | Goldman Sachs | Maintains | Sell | $217.00 |
| April 1, 2026 | Wells Fargo | Maintains | Underweight | $200.00 |
| April 1, 2026 | UBS | Maintains | Buy | $380.00 |
| March 18, 2026 | RBC Capital | Maintains | Sector Perform | $243.00 |
| February 23, 2026 | Barclays | Maintains | Underweight | $210.00 |
| February 17, 2026 | Wells Fargo | Maintains | Underweight | $195.00 |
| February 4, 2026 | Wells Fargo | Maintains | Underweight | $215.00 |
| January 14, 2026 | Wells Fargo | Maintains | Underweight | $265.00 |
| January 8, 2026 | Evercore ISI Group | Maintains | In-Line | $321.00 |
| December 22, 2025 | BMO Capital | Maintains | Market Perform | $305.00 |
| December 19, 2025 | Goldman Sachs | Maintains | Sell | $253.00 |
| December 19, 2025 | RBC Capital | Reiterates | Sector Perform | $320.00 |
| December 19, 2025 | Stifel | Maintains | Hold | $295.00 |
| December 17, 2025 | Morgan Stanley | Upgrades | Equal-Weight | $307.00 |
| December 5, 2025 | Wells Fargo | Maintains | Underweight | $260.00 |
| September 22, 2025 | UBS | Upgrades | Buy | $425.00 |
| September 19, 2025 | BMO Capital | Maintains | Market Perform | $324.00 |
| September 19, 2025 | Morgan Stanley | Maintains | Underweight | $293.00 |
| September 19, 2025 | Evercore ISI Group | Maintains | In-Line | $328.00 |
| September 19, 2025 | Stifel | Maintains | Hold | $372.00 |
| September 19, 2025 | Barclays | Maintains | Underweight | $300.00 |
| September 19, 2025 | Wells Fargo | Maintains | Underweight | $296.00 |
| September 12, 2025 | Rothschild & Co | Upgrades | Neutral | $370.00 |
| September 10, 2025 | Evercore ISI Group | Maintains | In-Line | $394.00 |
| September 5, 2025 | Wells Fargo | Maintains | Underweight | $355.00 |
AI disruption: Threat to legacy terminal business vs. growth catalyst
FactSet's AI-powered tools are actively winning new deals and displacing established competitors like Refinitiv, Bloomberg, and Aladdin, particularly in wealth management and middle-office workflows. RBC Capital maintains a constructive view, anticipating ASV beats driven by robust demand and a strong sales pipeline fueled by AI-driven innovation.
Rothschild Redburn downgraded FactSet to Sell with a $215 target, warning that AI disintermediation poses structural threats to the legacy terminal business. Roughly 75% of FactSet's ASV faces pricing power erosion as data consumption becomes increasingly unbundled, undermining the foundation of its subscription model.
Margin trajectory and the cost of growth investments
FactSet delivered fiscal Q3 2026 results that beat both EPS and revenue expectations, with adjusted EPS of $4.53 versus the $4.45 estimate and revenue of $622.9 million exceeding consensus. Morgan Stanley noted that AI-driven ASV growth remains strong, suggesting investment spending is translating into measurable top-line momentum.
Despite the earnings beat, GAAP operating margin fell to 26.7% and adjusted operating margin declined to 34.0%, as compensation and technology costs increased. The company only reaffirmed full-year guidance rather than raising it, with the EPS midpoint of $17.50 falling below the analyst consensus of $17.71, signaling limited near-term profitability upside.
Annual Subscription Value growth sustainability and full-year guidance credibility
Organic ASV reached $2.49 billion at May 31, 2026, reflecting 7.1% year-over-year growth, and RBC Capital expects the company to continue exceeding guidance driven by international price increases and a robust sales pipeline. UBS maintained a Buy rating with a $340 target, and Autonomous Research raised its target to $389, reflecting confidence in sustained subscription growth.
FactSet's reaffirmation of FY2026 guidance — rather than an upward revision following a Q3 beat — disappointed investors, with the adjusted EPS guidance midpoint below analyst consensus. Wells Fargo, Barclays, Goldman Sachs, and Wolfe Research all maintain below-market ratings with price targets well under current trading levels, reflecting skepticism about ASV growth durability.