Blackbaud Lowered to Underperform at Zacks (BLKB)
Blackbaud (NASDAQ:BLKB) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, Analyst Ratings.Net reports. They currently have a $30.80 price objective on the stock. Zacks‘ price target would suggest a potential downside of 5.11% from the stock’s previous close.
Separately, analysts at JPMorgan Chase & Co. downgraded shares of Blackbaud from a “neutral” rating to an “underweight” rating in a research note on Thursday, January 30th.
Shares of Blackbaud (NASDAQ:BLKB) traded up 0.68% on Tuesday, hitting $32.68. 125,912 shares of the company’s stock traded hands. Blackbaud has a 1-year low of $26.38 and a 1-year high of $42.23. The stock’s 50-day moving average is $35.86 and its 200-day moving average is $36.66. The company has a market cap of $1.470 billion and a P/E ratio of 48.45.
Blackbaud (NASDAQ:BLKB) last released its earnings data on Thursday, February 13th. The company reported $0.32 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.32. The company had revenue of $134.90 million for the quarter, compared to the consensus estimate of $132.47 million. During the same quarter last year, the company posted $0.27 earnings per share. Blackbaud’s revenue was up 12.3% compared to the same quarter last year. Analysts expect that Blackbaud will post $1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, February 26th.
Blackbaud, Inc is a global provider of software and related services designed specifically for nonprofit organizations.
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