FICO price target raised to $780 from $630 at Needham

Needham analyst Kyle Peterson raised the firm’s price target on FICO to $780 from $630 and keeps a Buy rating on the shares after its Q1 earnings beat. The quarter was solid despite the macroeconomic uncertainty, and the management affirmed its guidance which does not include any special pricing increases, the analyst tells investors in a research note. FICO is an effective way to navigate choppy market conditions given the healthy revenue growth, attractive margin/cash flow profile, and shareholder friendly capital allocation strategy, the firm adds.