Blackbaud, Inc. (NASDAQ:BLKB) Receives $78.67 Consensus Target Price from Analysts

Blackbaud, Inc. (NASDAQ:BLKB) has earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $78.6667.

A number of equities research analysts have recently commented on BLKB shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackbaud in a research report on Saturday, September 27th. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd.

Blackbaud Stock Performance

NASDAQ BLKB opened at $63.04 on Friday. The company has a market cap of $3.06 billion, a PE ratio of -10.91, a price-to-earnings-growth ratio of 4.40 and a beta of 1.11. The stock’s 50 day simple moving average is $65.65 and its 200-day simple moving average is $63.85. Blackbaud has a 1-year low of $58.05 and a 1-year high of $88.95. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.05 by $0.16. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%.The firm had revenue of $281.38 million during the quarter, compared to analysts’ expectations of $276.48 million. During the same period in the previous year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, equities research analysts anticipate that Blackbaud will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Blackbaud news, EVP Kevin P. Gregoire sold 8,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total transaction of $581,360.00. Following the transaction, the executive vice president owned 111,156 shares of the company’s stock, valued at approximately $8,077,706.52. The trade was a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.98, for a total transaction of $159,950.00. Following the sale, the director owned 7,966 shares of the company’s stock, valued at approximately $509,664.68. The trade was a 23.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in shares of Blackbaud by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 131,033 shares of the technology company’s stock valued at $8,131,000 after purchasing an additional 2,582 shares during the last quarter. KBC Group NV lifted its position in Blackbaud by 31.8% in the first quarter. KBC Group NV now owns 2,209 shares of the technology company’s stock valued at $137,000 after buying an additional 533 shares during the last quarter. UMB Bank n.a. boosted its stake in Blackbaud by 63.2% during the first quarter. UMB Bank n.a. now owns 692 shares of the technology company’s stock worth $43,000 after buying an additional 268 shares during the period. Intech Investment Management LLC increased its position in shares of Blackbaud by 5.2% during the first quarter. Intech Investment Management LLC now owns 43,733 shares of the technology company’s stock valued at $2,714,000 after acquiring an additional 2,144 shares during the last quarter. Finally, XTX Topco Ltd increased its position in shares of Blackbaud by 303.8% during the first quarter. XTX Topco Ltd now owns 16,958 shares of the technology company’s stock valued at $1,052,000 after acquiring an additional 12,758 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.