Fair Isaac Corp

FICO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$9,555.00	Yplqs	Xchxxfnmg

Fair Isaac Earnings: Mortgage Pricing Drives Scores Revenue Growth; Software Growth Moderates

Rajiv Bhatia

Aug 1, 2024

Fair Isaac reported a decent fiscal third quarter. Overall revenue grew 12% and scores revenue grew 20%, driven by an 80% increase in mortgage revenue, which benefited from special pricing increases. Overall, we will maintain our wide moat rating on Fair Isaac and expect to increase our fair value estimate of $1,010 by a single-digit percentage. While there are many positive aspects to Fair Isaac’s business model, we regard shares as pricey.

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