B. Riley Boosts Blackbaud (BLKB) Price Target to $90.00

Blackbaud (NASDAQ:BLKB) had its price objective boosted by B. Riley from $82.00 to $90.00 in a note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the technology company’s stock. B. Riley’s price objective points to a potential downside of 3.83% from the company’s current price.

A number of other research analysts have also recently commented on BLKB. Zacks Investment Research upgraded shares of Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Thursday. DA Davidson began coverage on shares of Blackbaud in a research note on Friday, February 2nd. They issued a “neutral” rating and a $95.00 price objective on the stock. BidaskClub cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Dougherty & Co began coverage on shares of Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating on the stock. Finally, Citigroup set a $112.00 price objective on shares of Blackbaud and gave the company a “buy” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Blackbaud presently has a consensus rating of “Hold” and a consensus price target of $95.33.

Shares of Blackbaud (BLKB) traded down $0.63 on Thursday, reaching $93.58. 594,839 shares of the company’s stock were exchanged, compared to its average volume of 325,783. The company has a market capitalization of $4,500.26, a PE ratio of 68.31, a price-to-earnings-growth ratio of 5.34 and a beta of 0.75. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.40. Blackbaud has a 1 year low of $67.18 and a 1 year high of $104.55.

In other news, EVP Brian Boruff sold 800 shares of Blackbaud stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total transaction of $83,160.00. Following the transaction, the executive vice president now directly owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kevin W. Mooney sold 4,466 shares of Blackbaud stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total transaction of $451,066.00. Following the transaction, the executive vice president now directly owns 71,655 shares in the company, valued at $7,237,155. The disclosure for this sale can be found here. Company insiders own 2.19% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. QS Investors LLC increased its position in Blackbaud by 157.1% during the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,100 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Blackbaud during the fourth quarter worth about $157,000. First Republic Investment Management Inc. purchased a new stake in Blackbaud during the fourth quarter worth about $204,000. Verition Fund Management LLC purchased a new stake in Blackbaud during the second quarter worth about $228,000. Finally, M&T Bank Corp purchased a new stake in Blackbaud during the second quarter worth about $233,000.

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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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