Blackbaud, Inc. (BLKB) PT Set at $82.00 by B. Riley
Blackbaud, Inc. (NASDAQ:BLKB) has been given a $82.00 price objective by research analysts at B. Riley in a research report issued on Thursday. The brokerage presently has a “hold” rating on the technology company’s stock. B. Riley’s price target indicates a potential downside of 11.83% from the company’s previous close.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Robert W. Baird set a $85.00 price objective on Blackbaud and gave the stock a “hold” rating in a research report on Sunday, October 1st. Citigroup Inc. began coverage on Blackbaud in a research report on Friday, September 22nd. They set a “buy” rating and a $100.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research report on Friday, July 21st. Finally, Benchmark Co. reduced their price objective on Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.75.
Shares of Blackbaud (NASDAQ:BLKB) traded up 1.45% during trading on Thursday, hitting $93.00. The stock had a trading volume of 287,464 shares. Blackbaud has a one year low of $55.88 and a one year high of $93.81. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 89.42 and a beta of 0.84. The stock has a 50 day moving average price of $86.99 and a 200-day moving average price of $84.89.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.12). The firm had revenue of $192.50 million for the quarter, compared to the consensus estimate of $193.66 million. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, equities research analysts predict that Blackbaud will post $2.13 earnings per share for the current year.
In other Blackbaud news, SVP Jon W. Olson sold 5,282 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.24, for a total value of $444,955.68. Following the sale, the senior vice president now owns 50,756 shares in the company, valued at approximately $4,275,685.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sarah E. Nash sold 1,105 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $84.78, for a total value of $93,681.90. Following the completion of the sale, the director now owns 22,272 shares in the company, valued at approximately $1,888,220.16. The disclosure for this sale can be found here. Insiders sold a total of 20,752 shares of company stock worth $1,771,517 in the last quarter. Corporate insiders own 2.19% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC bought a new stake in shares of Blackbaud in the 2nd quarter valued at about $125,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Blackbaud by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after buying an additional 39 shares during the last quarter. QS Investors LLC grew its position in shares of Blackbaud by 157.1% in the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock valued at $154,000 after buying an additional 1,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Blackbaud by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock valued at $163,000 after buying an additional 163 shares during the last quarter. Finally, Investment Centers of America Inc. bought a new stake in shares of Blackbaud in the 2nd quarter valued at about $203,000.
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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