FactSet CEO transition ‘surprise’ to most investors, says Barclays

After FactSet (FDS) announced the retirement of CEO Phil Snow and the appointment of Sanoke Viswanathan to replace him in early September, Barclays said the CEO transition came “to the surprise of most investors,” adding that some are also interpreting the news as a negative read for second half results. However, the firm also notes that it has written before how changes are needed and contends “this could be the Board recognizing a much needed potential catalyst.” The firm, which believes the change is “timely,” coming right after it wrote in its fiscal Q3 preview about skepticism on FactSet meeting their FY25 guidance, has an Underweight rating and $390 price target on the shares.