Equities research analysts expect Blackbaud, Inc. (NASDAQ:BLKB) to post $193.79 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Blackbaud’s earnings, with the lowest sales estimate coming in at $191.77 million and the highest estimate coming in at $195.43 million. Blackbaud reported sales of $180.19 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The business is expected to announce its next earnings report after the market closes on Monday, July 31st.

On average, analysts expect that Blackbaud will report full-year sales of $193.79 million for the current fiscal year, with estimates ranging from $784.16 million to $795.00 million. For the next year, analysts anticipate that the business will post sales of $854.03 million per share, with estimates ranging from $843.20 million to $864.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Blackbaud.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Monday, May 1st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The firm had revenue of $183.62 million for the quarter, compared to analyst estimates of $182.95 million. Blackbaud had a net margin of 6.11% and a return on equity of 31.13%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share.

Several equities analysts recently commented on BLKB shares. Raymond James Financial, Inc. started coverage on Blackbaud in a research report on Wednesday, April 19th. They set an “outperform” rating and a $90.00 target price for the company. Stifel Nicolaus raised their target price on Blackbaud from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Benchmark Co. restated a “buy” rating and set a $90.00 target price (up previously from $85.00) on shares of Blackbaud in a research report on Tuesday, May 2nd. B. Riley downgraded Blackbaud from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $76.13.

In related news, EVP Kevin W. Mooney sold 5,094 shares of Blackbaud stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $79.11, for a total transaction of $402,986.34. Following the completion of the sale, the executive vice president now directly owns 85,976 shares of the company’s stock, valued at $6,801,561.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sarah E. Nash sold 825 shares of Blackbaud stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $78.67, for a total value of $64,902.75. Following the sale, the director now directly owns 20,652 shares of the company’s stock, valued at $1,624,692.84. The disclosure for this sale can be found here. Insiders sold a total of 14,224 shares of company stock valued at $1,152,915 over the last three months. Insiders own 2.74% of the company’s stock.

Several large investors have recently made changes to their positions in BLKB. Nationwide Fund Advisors boosted its stake in shares of Blackbaud by 2.8% in the first quarter. Nationwide Fund Advisors now owns 339,127 shares of the technology company’s stock worth $26,001,000 after buying an additional 9,237 shares during the period. Diversified Trust Co boosted its stake in shares of Blackbaud by 2.9% in the first quarter. Diversified Trust Co now owns 7,000 shares of the technology company’s stock worth $537,000 after buying an additional 200 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Blackbaud by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 5,270 shares of the technology company’s stock worth $404,000 after buying an additional 90 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Blackbaud during the first quarter worth approximately $272,000. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of Blackbaud by 4.4% in the first quarter. Conestoga Capital Advisors LLC now owns 734,887 shares of the technology company’s stock worth $56,344,000 after buying an additional 30,926 shares during the period.

Blackbaud (BLKB) traded up 0.35% during midday trading on Friday, hitting $89.90. The company had a trading volume of 107,644 shares. Blackbaud has a one year low of $55.88 and a one year high of $92.73. The company’s 50 day moving average is $87.41 and its 200-day moving average is $77.61. The company has a market cap of $4.18 billion, a P/E ratio of 90.90 and a beta of 0.76.

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Blackbaud Company Profile

Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).

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Earnings History and Estimates for Blackbaud (NASDAQ:BLKB)

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