JMP Securities analyst Kevane Wong reduced his rating to a "Market Underperform" from a "Market Perform," and called for a $43 price target within the next 12 months.
"We believe the company is beginning to encounter increased competition in account management and a tougher operating environment for scoring," Wong said in a report. "We understand that four credit-card issuers are expected to shift from Fair Isaac's Triad account management system to Experian's Probe system in the first part of 2006.
Last month, Stephens analyst Brad Elchler said he believes rivals such as Experian, Equifax and TransUnion have focused on Fair Isaac's business. He downgraded the company to an "Equal Weight" from an "Overweight," and lowered his 12-month stock target to $53 from $49.
Shares of Fair Isaac fell $2.23, or 4.8 percent, to $44.28 in midday trading on the New York Stock Exchange, and earlier changed hands as low as $43.22. The stock is still up about 21 percent so far this year.
« Any opinions expressed on the Seeking Alpha sites are those of the individual authors and do not necessarily represent the opinion of SeekingAlpha or its management. »