Fiserv Stock Plummets 43% as Analysts Downgrade on Q3 Earnings Miss
Fiserv (FI) shares cratered 43% Wednesday after three top analysts downgraded the fintech giant following what William Blair's Andrew Jeffrey called a "shocking" Q3 revenue and EPS miss. The sell-off marks the stock's worst single-day performance in recent history.
Jeffrey withdrew his Buy recommendation, citing eroding confidence in Fiserv's merchant business competitiveness and forecast reliability. The abrupt CEO transition to Mike Lyons further clouds the outlook, with analysts questioning whether new leadership can quickly diagnose systemic issues.
Wolfe Research's Darrin Peller echoed concerns about potential structural problems despite acknowledging Fiserv's strong assets. Compass Point joined the downgrade wave, slashing its price target to $127.50. The triple downgrade reflects Wall Street's growing skepticism about Fiserv's ability to navigate this transitional period.
