$197.53 Million in Sales Expected for Blackbaud, Inc. (BLKB) This Quarter
Wall Street analysts expect that Blackbaud, Inc. (NASDAQ:BLKB) will announce sales of $197.53 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Blackbaud’s earnings. The lowest sales estimate is $195.60 million and the highest is $202.00 million. Blackbaud reported sales of $183.06 million during the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The company is expected to announce its next earnings report after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Blackbaud will report full year sales of $197.53 million for the current financial year, with estimates ranging from $784.65 million to $794.00 million. For the next financial year, analysts expect that the business will post sales of $854.08 million per share, with estimates ranging from $843.20 million to $864.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Blackbaud.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.12). Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business had revenue of $192.50 million during the quarter, compared to analyst estimates of $193.66 million. During the same quarter last year, the company posted $0.46 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year.
Several research analysts recently commented on BLKB shares. Zacks Investment Research raised shares of Blackbaud from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Benchmark Co. decreased their target price on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, June 27th. B. Riley reaffirmed a “neutral” rating and issued a $78.00 target price on shares of Blackbaud in a research note on Monday, August 28th. Robert W. Baird lifted their target price on shares of Blackbaud from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $96.00 target price on shares of Blackbaud in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Blackbaud has an average rating of “Hold” and an average target price of $87.00.
In other Blackbaud news, EVP Kevin W. Mooney sold 5,027 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $83.52, for a total transaction of $419,855.04. Following the transaction, the executive vice president now directly owns 78,611 shares of the company’s stock, valued at approximately $6,565,590.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael P. Gianoni sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $87.77, for a total transaction of $351,080.00. Following the transaction, the insider now directly owns 258,921 shares in the company, valued at $22,725,496.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,752 shares of company stock worth $1,771,517. 2.19% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Allen Investment Management LLC increased its position in Blackbaud by 69.1% during the 2nd quarter. Allen Investment Management LLC now owns 18,541 shares of the technology company’s stock valued at $1,590,000 after purchasing an additional 7,579 shares during the period. JPMorgan Chase & Co. increased its position in Blackbaud by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock valued at $78,792,000 after purchasing an additional 51,747 shares during the period. Russell Investments Group Ltd. purchased a new position in Blackbaud during the 2nd quarter valued at $1,476,000. Turner Investments LLC purchased a new position in Blackbaud during the 2nd quarter valued at $472,000. Finally, Nationwide Fund Advisors increased its position in Blackbaud by 27.2% during the 2nd quarter. Nationwide Fund Advisors now owns 431,506 shares of the technology company’s stock valued at $37,002,000 after purchasing an additional 92,379 shares during the period.
Shares of Blackbaud (BLKB) traded down 0.34% during trading on Tuesday, reaching $92.12. 133,808 shares of the company’s stock traded hands. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 88.66 and a beta of 0.84. Blackbaud has a 52-week low of $55.88 and a 52-week high of $93.95. The company’s 50-day moving average is $87.23 and its 200 day moving average is $85.11.
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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