FactSet Research Systems' (FDS) annual subscription value is poised to top the market consensus in fiscal Q2 following the acquisition of LiquidityBook, RBC Capital Markets said Monday in a report.
RBC projects Q2 ASV of $2.32 billion versus the consensus of $2.30 billion with an estimated $18 million from the LiquidityBook purchase.
"Our 2Q25 revenue estimate of $570 million is in line with consensus" with the earnings outlook of $4.07 a share trailing Wall Street's projection of $4.20, RBC said.
"Investors are concerned about potentially weaker-than-expected banking hiring and IT spending" amid macro and political uncertainties, RBC said.
Still, FactSet is expected to reiterate full-year guidance and "reinforce confidence in Q4 acceleration," the report said.
RBC has a sector perform rating on FactSet's stock with a $503 price target. Fiscal Q2 results are scheduled for March 20.
FactSet shares rose 1.7% in recent Monday trading.
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