Fair Isaac Corporation (FICO) witnessed a pre-market plunge of 6.34% on Wednesday, following the company's disappointing fiscal first-quarter earnings results released after the market close on Tuesday. The leading analytics and decision management technology provider reported adjusted earnings per share (EPS) of $5.79 for the quarter ended December 31, 2024, falling short of the consensus analyst estimate of $6.07.
In addition to the earnings miss, multiple analysts lowered their price targets on FICO's stock. Jefferies analyst Surinder Thind lowered the firm's price target to $2,175 from $2,275, while Baird lowered its target to $1,775 from $1,975, although both firms maintained their respective ratings on the shares.
Despite reporting year-over-year growth in revenue and net income, Fair Isaac's failure to meet the market's high expectations for the quarter appeared to be the primary catalyst for the stock's sharp decline. Investors reacted negatively to the earnings miss and the subsequent price target cuts, prompting a selloff in the company's shares during the pre-market trading session.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.