Oppenheimer analyst Glenn Greene maintained a Buy rating on Black Knight Inc (BKI) today and set a price target of $60. The company’s shares opened today at $55.84, close to its 52-week high of $56.73.
Greene observed:
“BKI reported solid 1Q19 results with adjusted revenue growth of 4% to $283M (met our estimate) and adj. EPS of $0.44 (vs. our/Street’s $0.44/$0.43 estimates). Growth was balanced across segments (+4/6% growth in Software/D&A, respectively) and BKI still anticipates converting 20-25% of its $160M backlog in FY19. BKI affirmed its CY19 outlook, which anticipates ~6-7% revenue growth and EPS of $1.90-2.00; includes ~$0.08 drag from DNB-related debt (by our estimate). Newer products, Digital, are seeing strong demand. We remain attracted to BKI’s strong market position and its large signed backlog. At ~25.5x our FY20E EPS, the shares appear attractive considering long-term growth prospects/visibility. Maintain Outperform rating and raise PT from $55 to $60.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 20.2% and a 85.6% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
Currently, the analyst consensus on Black Knight Inc is a Strong Buy with an average price target of $61.29.
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Based on Black Knight Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $42.8 million. In comparison, last year the company had a net profit of $42.7 million.
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Black Knight, Inc. engages in the provision of software, data and analytics solutions. It operates through the Software Solutions, and Data and Analytics segments. The Software Solutions segment offers software and hosting solutions that support loan servicing, loan origination, and settlement services.