FactSet Stock Nabs Fresh High After Q3 Earnings Beat

Still, revenue fell short of expectations

Deputy Editor
Jun 25, 2020 at 10:38 AM
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FactSet Research Systems Inc. (NYSE:FDS) entered the earnings confessional this morning, reporting fiscal third-quarter earnings that beat Wall Street's estimates. Revenue for the financial markets information company, however, came in just shy of forecasts. Still, the shares of FDS are surging, last seen up 6.4% to trade at $316.39 after earlier touching a record high of $323.

FDS saw an impressive bounce off its March 23 one-year low of $195.22, up over 60% since then. While the security quickly pivoted after clocking its previous all-time high in early June, the 60-day moving average provided some padding on the charts. Year-to-date FDS boasts a19.7% gain. 

Despite this positive price action, there is a strong preference for puts in the options pits. FDS sports a 10-day put/call volume ratio of 3.14 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks in the 76th percentile of its annual range, and implies a healthier-than-usual appetite for long puts of late.

Analysts are overwhelmingly pessimistic about FactSet stock, which could lead to upgrades down the road. With no "buy" rating in sight, all 11 in coverage sport a "hold" or worse. Meanwhile, the 12-month consensus price target of $245.85 is a 17.3% discount to current levels.


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