Black Knight downgraded by Stephens with a new price target
$BKI
Computer Software: Prepackaged Software
Technology
Stephens downgraded Black Knight from Overweight to Equal-Weight and set a new price target of $75.00 from $72.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/24/2023 | $72.00 → $75.00 | Overweight → Equal-Weight | Stephens |
| 12/2/2022 | $65.00 | Overweight → Equal Weight | Barclays |
| 5/9/2022 | $83.00 → $80.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 2/8/2022 | $100.00 → $71.00 | Buy → Hold | Jefferies |
| 11/9/2021 | $83.00 → $91.00 | Outperform | Raymond James |
| 9/30/2021 | $83.00 | Market Perform → Outperform | Raymond James |
According to the Optimal Blue Mortgage Market Indices, 30-year conforming rates climbed above 7.25% in August, the highest level in more than 20 years, before settling to 7.07% at the end of the monthOverall rate lock volumes were down for the third consecutive month, falling 1.5% from July, driven by a 1.9% decrease in purchase volumePurchase lock counts were down 22% year over year and 34% compared to 2019 pre-pandemic levels, as higher interest rates and the tightest affordability since the early 1980s dampened demandAs reported in Black Knight's August Mortgage Monitor report, signs of credit tightening have been seen in rising down payments, falling loan-to-value ratios and higher credi
In July 2023, the average monthly principal and interest (P&I) payment for borrowers purchasing a home using a 30-year fixed-rate loan was $2,306 – before taxes and insurance are even includedThat's the highest average P&I payment on record and has risen by 60% (+$871) over the past two years; it's also poised to push even higher given recent rate increasesMore than half of such July purchase originations had a payment of more than $2,000 a month, up from just 18% 2 years ago, with nearly a quarter (23%) having payments of more than $3,000 – up from 5% in 2021Beyond purchase affordability, rising interest rates are also having a clear and decisive impact on how much equity mortgage holders a
-- The Black Knight HPI hit another all-time high in July, with the annual rate of growth jumping to +2.3% from a revised +0.9% in June -- The reaccelerating annual growth rate was driven as much by the price declines of last July providing a lower starting point as it was by July 2023 gains themselves -- August will likely see further reacceleration in annual growth with prices already up a seasonally adjusted 2.9% from August 2022 and 4.4% from the start of the year -- At the same time, non-adjusted monthly gains fell below their 25-year average after significantly outpacing historical averages from February through June, signaling a slowdown may be underway -- Though prices rose on both s
Stephens downgraded Black Knight from Overweight to Equal-Weight and set a new price target of $75.00 from $72.00 previously
Barclays downgraded Black Knight from Overweight to Equal Weight and set a new price target of $65.00
Keefe Bruyette downgraded Black Knight from Outperform to Mkt Perform and set a new price target of $80.00 from $83.00 previously
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The Black Knight Home Price Index (HPI) hit an all-time high in June, this time on both seasonally adjusted (SA) and unadjusted levels, with nearly every major market experiencing month-over-month growthPrices have now reached new peaks in 30 of the 50 largest markets, with several northeastern metros currently 5-8% above 2022 highsHome prices rose by +.67% (SA) month-over-month in June, while after slowing for 14 consecutive months, the annual growth rate rose to +0.8% in June, up from a revised +0.2% in MayBroadly speaking, annual growth is strongest among Midwest and Northeast markets, while West Coast and pandemic boom markets continue to see prices run below last year's levelsDespite ov
JACKSONVILLE, Fla., Aug. 3, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced unaudited financial results for the second quarter and the six months ended June 30, 2023, as compared to the prior year periods. Commentary: Black Knight Executive Chairman Anthony Jabbour said, "Our second quarter results were solid in the face of a very challenging operating environment. As we look ahead to the balance of the year, we remain f
JACKSONVILLE, Fla., July 20, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced it will report its second quarter 2023 financial results on Thursday, August 3, 2023, at approximately 7:30 a.m. Eastern Time via press release. This release will be available on Black Knight's Investor Relations website at https://investor.blackknightinc.com. Due to the proposed transaction with Intercontinental Exchange, Inc., Black Knight will not host a conference call or provide forward-looking guidance in connection with the release of its quarterly resu