Focus to fall on FactSet’s ASV guidance, says RBC Capital

RBC Capital analyst Ashish Sabadra keeps a Sector Perform rating and $464 price target on FactSet (FDS) ahead of its Q3 results. The company is expected to deliver an in-line quarter, though the focus will likely fall on its Annual Subscription Value, or ASV, guidance, the analyst tells investors in a research note. While the 2024 outlook may be maintained given FactSet’s solid second-half sales pipeline, the guidance will not be de-risked due to the elongated sales cycle, end-market weakness, and Credit Suisse-UBS (UBS) merger headwinds, the firm added.