Fair Isaac (FICO) PT Raised to $630 at Needham & Company
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Needham & Company analyst Kyle Peterson raised the price target on Fair Isaac (NYSE: FICO) to $630.00 (from $565.00) while maintaining a Buy rating.
The analyst commented, "FICO's 3Q results came in above ours and Street expectations due to strong Scores momentum on both the B2B and B2C side. While this was partially offset by softer license revenue given the ongoing transition to platform-based offerings, but the improved Scores trajectory, especially in areas such as credit cards and personal loans is more than enough to keep us constructive on the shares. FICO also mentioned plans to begin disclosing more software-related KPIs (i.e. ARR) starting next quarter which we believe will be welcomed by investors and serve as another step towards unlocking value in the software business. We are maintaining our BUY rating and raising our target to $630."
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