Mizuho Securities Remains Neutral on Black Knight Financial Services (BKFS) Following 3Q EPS Beat
Mizuho Securities reiterated a Neutral rating on Black Knight Financial Services (NYSE: BKFS), and raised the price target to $34.00 (from $30.00), following the company's 3Q earnings results. The company reported non-GAAP revenue of $236mm, EBITDA of $106mm and EPS of $0.25 vs consensus of $233mm, 102mm and $0.23, respectively. The company called for 2H15 revenue growth toward the upper end of its prior outlook, implying 4Q15 estimates will largely remain unchanged.
Analyst Abhey Lamba commented, "Black Knight reported 3Q15 results today with revenue and EPS coming in ahead of consensus estimates. The company's Technology segment showed strength as underlying loan count growth continued while the Data & Analytics segment gained from long term contracts. Management reiterated its guidance for 2H15 toward the upper end of its prior outlook. We acknowledge the company's strong execution, however, see shares fully valued at current levels. We reiterate our Neutral rating while raising our PT to $34 from $30."
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Shares of Black Knight Financial Services closed at $36.06 yesterday.