Analyst Kyle Peterson of Needham reiterated a Buy rating on Fair Isaac (FICO – Research Report), retaining the price target of $2,500.00.
Kyle Peterson has given his Buy rating due to a combination of factors that highlight Fair Isaac’s strong position in the market. The company’s leading role as a provider of risk management tools for financial institutions offers a level of defensiveness that is particularly valuable during times of economic uncertainty, such as the current global trade tensions. This defensive characteristic is expected to help FICO perform well even in an economic slowdown.
Kyle Peterson also anticipates that Fair Isaac will continue its stock repurchase program, potentially at an accelerated rate compared to historical levels. This could lead to a positive impact on earnings estimates, as the financial benefits of buybacks become more pronounced following recent market pullbacks. These factors collectively support the reiteration of the Buy rating and the inclusion of FICO on the Needham Conviction List.
Peterson covers the Technology sector, focusing on stocks such as Fair Isaac, Alight, and Affirm Holdings. According to TipRanks, Peterson has an average return of -1.4% and a 40.70% success rate on recommended stocks.
In another report released on April 9, Bank of America Securities also initiated coverage with a Buy rating on the stock with a $2,800.00 price target.