Why Is FactSet Research Systems Stock Trading Lower Thursday?
Portfolio Pulse from Anusuya Lahiri
FactSet Research Systems Inc (NYSE:FDS) reported a slight miss in Q2 fiscal 2024 sales at $545.95 million against a consensus of $546.80 million but beat EPS estimates with $4.22 versus $3.88 expected. Despite positive growth in client count and adjusted EBITDA, FDS shares dropped 5.40% to $463.04. The company reiterated its FY24 revenue and EPS outlook, and mentioned strategic investments in generative AI. FDS is included in AdvisorShares Focused Equity ETF (NYSE:CWS) and Gabelli ETFs Trust Gabelli Financial Services Opportunities ETF (NYSE:GABF).
March 21, 2024 | 3:16 pm
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NEGATIVE IMPACT
AdvisorShares Focused Equity ETF, which includes FDS, may see indirect impact due to FDS's Q2 performance and share price drop.
As an ETF holding FDS, CWS could experience a negative impact due to FDS's performance, though diversified holdings may buffer significant effects.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
FactSet reported a slight miss in Q2 sales but beat EPS estimates. Despite growth, shares fell 5.40%. FY24 outlook remains unchanged with a focus on AI investments.
The slight miss in sales expectations and the subsequent drop in share price indicate a negative short-term impact. However, the beat on EPS and positive outlook could mitigate further losses.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Gabelli ETFs Trust Gabelli Financial Services Opportunities ETF, including FDS, might be indirectly affected by FDS's recent earnings report and stock performance.
GABF, as an ETF that includes FDS, may face indirect negative impacts from FDS's slight sales miss and subsequent stock price decline, though its diversified portfolio may mitigate the impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50