FactSet closed at $286.52, above the street's $277.56 target, on a Scotia deal with no disclosed value
A Scotia Wealth partnership with no disclosed value lifted FactSet 5.09% to $286.52, past the street's $277.56 average target, six days after a below-consensus fiscal 2027 guide knocked 4.18% off the stock. The AI line behind both moves still has no dollar figure.
Vincent Jiang · 2 min read
The release with no numbers won the week
On September 30 FactSet−0.73% — FactSet, down 0.73 percent today priced its own future: organic annual subscription value up 7.0% to $2,568.2 million for fiscal 2026, a record increase in the CEO's words, then a fiscal 2027 guide of 5.0-6.5% growth and adjusted EPS of $19.25-19.65, under the $19.75 consensus 12. Shares fell 4.18% to $266.00 on October 2 2. Six days later came an expanded Scotia Wealth Management partnership with no disclosed dollar terms, only a promise that advisors would get FactSet's research and market data in one place 3. The stock closed 5.09% higher at $286.52 34.
The stock now sits above the street's own math
$286.52 is above the $277.56 average 12-month target across 18 analysts at a Neutral consensus 2. Market value swung from $9.5 billion on October 2 to $10.26 billion by the October 8 close 23. The post-earnings target raises stayed on the fence: Stifel moved to $292 and kept Hold, BMO to $300 and kept Market Perform 2. Goldman Sachs+1.48% — Goldman Sachs, up 1.48 percent today rates the shares Sell at $237; Wells Fargo is Underweight at $250 1.
After Scotia, FactSet closed above the street's average target
Data
| Value | |
|---|---|
| Oct 2 close, guide day | $266 |
| Street average target | $277.56 |
| Oct 8 close, Scotia day | $286.52 |
The AI line has no dollar figure
Both camps are trading the same asset. The guide steps down to 5.0-6.5% because the record year carried real costs; the rally runs because AI-solutions ASV added in fiscal 2026 more than doubled year over year 1. No dollar figure for that business appears anywhere in the results 18, and a doubling from an undisclosed base leaves the size unknown.
The record year was not free
Fourth-quarter GAAP operating margin fell to 24.7% from 29.7%, on $26.9 million of restructuring and severance plus incentive pay linked to the ASV growth itself 1. Every quarter of fiscal 2026 printed a lower GAAP margin than its year-earlier counterpart 17. The adjusted measure is guided up to 34.75-35.25%, from 34.5% 1.
GAAP operating margin fell year over year in every quarter of fiscal 2026
Data
| GAAP operating margin | |
|---|---|
| Q1 FY24 | 34.9% |
| Q2 FY24 | 33.3% |
| Q3 FY24 | 36.6% |
| Q4 FY24 | 22.7% |
| Q1 FY25 | 33.6% |
| Q2 FY25 | 32.5% |
| Q3 FY25 | 33.2% |
| Q4 FY25 | 29.7% |
| Q1 FY26 | 31.6% |
| Q2 FY26 | 30.3% |
| Q3 FY26 | 26.7% |
| Q4 FY26 | 24.7% |
The bulls are buying lock-in
Their evidence is genuine: annual retention above 95%, average renewal length up about 30% in the quarter 1, and three wealth partnerships in five months, TIFIN.AI in June with a strategic investment, SUBSCRIBE for private markets on October 6, Scotia on the 8th 5. None of the three discloses a subscription value 356.
What settles it
Two disclosures settle the argument: the first fiscal 2027 quarter against the 5.0-6.5% guide, and the first dollar figure for AI ASV 6. Until one arrives, everything above $277.56 is paying for press releases.
Deepdive
AI-generated from this story and its cited sources. Not investment advice.
