Blackbaud, Inc. (BLKB) Receives Consensus Rating of “Hold” from Analysts

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have received an average rating of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $91.86.

A number of equities analysts have recently weighed in on BLKB shares. BidaskClub cut shares of Blackbaud from a “hold” rating to a “sell” rating in a research report on Friday. B. Riley set a $82.00 price target on shares of Blackbaud and gave the stock a “hold” rating in a research report on Thursday, October 26th. Dougherty & Co started coverage on shares of Blackbaud in a research report on Tuesday, October 31st. They set a “neutral” rating on the stock. Robert W. Baird set a $85.00 price target on shares of Blackbaud and gave the stock a “hold” rating in a research report on Sunday, October 1st. Finally, Zacks Investment Research cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th.

In related news, EVP Kevin W. Mooney sold 4,466 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $101.00, for a total transaction of $451,066.00. Following the sale, the executive vice president now directly owns 71,655 shares in the company, valued at $7,237,155. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brian Boruff sold 800 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total transaction of $83,160.00. Following the sale, the executive vice president now owns 50,862 shares in the company, valued at $5,287,104.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,655 shares of company stock worth $972,923. 2.19% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. ETF Managers Group LLC acquired a new stake in shares of Blackbaud during the second quarter worth $125,000. QS Investors LLC increased its stake in 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. Contravisory Investment Management Inc. acquired a new stake in Blackbaud in the 4th quarter valued at $157,000. Verition Fund Management LLC acquired a new stake in Blackbaud in the 2nd quarter valued at $228,000. Finally, M&T Bank Corp acquired a new stake in Blackbaud in the 2nd quarter valued at $233,000.

Blackbaud (NASDAQ:BLKB) opened at $95.70 on Tuesday. Blackbaud has a 52 week low of $61.98 and a 52 week high of $104.55. The stock has a market cap of $4,610.00, a P/E ratio of 87.00, a price-to-earnings-growth ratio of 5.14 and a beta of 0.82. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.19.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $195.51 million for the quarter, compared to analysts’ expectations of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. equities research analysts predict that Blackbaud will post 1.57 EPS for the current year.

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About Blackbaud

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).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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