FactSet price target raised to $380 from $365 at Goldman Sachs

Goldman Sachs analyst George Tong raised the firm’s price target on FactSet to $380 from $365 but keeps a Sell rating on the shares after its Q3 earnings beat and guidance raise. The quarter came in mixed with outperformance on margins and earnings that was balanced by a diminished outlook for FY23 revenue and ASV growth, the analyst tells investors in a research note. Selling environment has also softened from the prior quarter, with FactSet management indicating that clients are cautious, their budgets are constrained, purchasing decisions are being delayed and buy-side/sell-side headcounts are being adjusted lower, the firm added.