Blackbaud, Inc. (BLKB) Rating Reiterated by B. Riley
Blackbaud, Inc. (NASDAQ:BLKB)‘s stock had its “neutral” rating reaffirmed by research analysts at B. Riley in a research report issued to clients and investors on Monday. They currently have a $78.00 price objective on the technology company’s stock. B. Riley’s price target would indicate a potential downside of 11.40% from the company’s previous close.
BLKB has been the subject of a number of other reports. 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 price objective for the company. Stifel Nicolaus reissued a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research report on Friday, July 21st. Zacks Investment Research raised Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Benchmark Co. reissued a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Blackbaud in a research report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $81.71.
Blackbaud (BLKB) traded up 0.43% during mid-day trading on Monday, hitting $88.04. 147,129 shares of the stock were exchanged. The company has a 50 day moving average of $88.51 and a 200 day moving average of $79.12. Blackbaud has a 12-month low of $55.88 and a 12-month high of $93.81. The firm has a market cap of $4.11 billion, a P/E ratio of 84.74 and a beta of 0.77.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The company had revenue of $192.50 million for the quarter, compared to analyst estimates of $193.66 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Blackbaud will post $2.14 earnings per share for the current fiscal year.
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In related news, EVP John J. Mistretta sold 4,016 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $83.00, for a total value of $333,328.00. Following the completion of the transaction, the executive vice president now directly owns 87,165 shares of the company’s stock, valued at $7,234,695. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin W. Mooney sold 5,094 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $79.11, for a total value of $402,986.34. Following the completion of the transaction, the executive vice president now directly owns 85,976 shares of the company’s stock, valued at $6,801,561.36. The disclosure for this sale can be found here. Insiders sold 14,224 shares of company stock valued at $1,152,915 over the last ninety days. 2.74% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Assetmark acquired a new position in shares of Blackbaud during the third quarter worth about $0. Northwestern Mutual Wealth Management Co. increased its position in shares of Blackbaud by 18.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the technology company’s stock worth $115,000 after buying an additional 230 shares during the period. LS Investment Advisors LLC increased its position in shares of Blackbaud by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,696 shares of the technology company’s stock worth $115,000 after buying an additional 59 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Blackbaud by 2,651.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,816 shares of the technology company’s stock worth $124,000 after buying an additional 1,750 shares during the period. Finally, Invictus RG increased its position in shares of Blackbaud by 264.9% in the first quarter. Invictus RG now owns 1,912 shares of the technology company’s stock worth $120,000 after buying an additional 1,388 shares during the period.
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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