Fidelity National Information Services Inc. declined 1.1% in pre-market trading on Tuesday, leaving shares at $40.94 and near a 52-week low of $37.42.
The slide followed multiple analyst downgrades and price-target reductions after the company reported second-quarter results on August 4. Wells Fargo downgraded FIS from Overweight to Equal Weight, setting a new target of $46, while UBS, Barclays, Morgan Stanley and Cantor Fitzgerald also trimmed their forecasts.
Analyst sentiment remains mixed. Of 28 tracked ratings, 14 are Buy, 13 are Hold and one is Sell. Wolfe Research maintained its Outperform rating but nudged its target to $54 from $53.
FIS reported adjusted earnings of $1.48 per share on revenue of $3.38 billion for the second quarter, matching consensus estimates. However, management reduced its full-year adjusted EPS guidance to $6.15–$6.24 from $6.22–$6.32 and cut full-year revenue guidance to $13.63–$13.70 billion from $13.77–$13.85 billion. The capital markets segment revenue growth outlook was lowered to 3%–3.5% from 5.5%, and third-quarter revenue guidance fell short of expectations.
The broader market showed mixed performance, with the S&P 500 down 0.28% and the Nasdaq up nearly 1.0% during the session. Peer Fiserv has also faced similar headwinds, with analysts citing guidance pressures across fintech processors.
