In a series of major market events, Fair Isaac Corporation (FICO) reported its Q2 and Q3 2024 earnings. The company also announced its plans to buy back $1.00 billion in stocks. While Q2 results exceeded revenue expectations, they missed on EPS estimates. On the other hand, FICO's Q3 earnings did not meet estimates, although revenues showed an increase. Multiple firms, including Janus Henderson Group PLC and Advisors Asset Management Inc., have bolstered their stakes in FICO, highlighting faith on its financial trajectory.
Despite concerns about the stock being expensive, the price target was raised multiple times by Needham & Company LLC, Robert W. Baird, and Royal Bank of Canada. The ongoing investigations by the DOJ into potential anti-competitive practices, and FICO facing scrutiny for anti-competitive behavior in credit scoring have garnered attention. However, FICO also experienced bolstered client base and strong portfolio growth, contributing to its share price surge.
U.S. average FICO credit scores dropped to 717. Amidst these developments, FICO appointed EVP Nikhil Behl to lead its Software Business. Fair Isaac also announced new earnings of $5.16/share in Q2 2024 and lost a bid to dismiss antitrust claims over the credit-scoring market.
Fair Isaac Corporation FICO News Analytics from Mon, 25 Jul 2022 07:00:00 GMT to Sun, 04 Aug 2024 11:10:26 GMT -
