Stifel Nicolaus Boosts Blackbaud (BLKB) Price Target to $105.00

Blackbaud (NASDAQ:BLKB) had its price objective raised by research analysts at Stifel Nicolaus from $100.00 to $105.00 in a report issued on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 12.20% from the company’s current price.

Several other research firms have also recently issued reports on BLKB. Dougherty & Co began coverage on Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating for the company. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Monday, October 30th. B. Riley increased their price target on Blackbaud from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup set a $112.00 price target on Blackbaud and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, DA Davidson started coverage on Blackbaud in a research note on Friday, February 2nd. They issued a “neutral” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Blackbaud currently has a consensus rating of “Hold” and an average target price of $95.33.

Blackbaud (NASDAQ BLKB) traded down $0.63 during trading hours on Thursday, hitting $93.58. The stock had a trading volume of 594,839 shares, compared to its average volume of 325,783. Blackbaud has a 12 month low of $67.18 and a 12 month high of $104.55. 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 debt-to-equity ratio of 1.40, a quick ratio of 0.63 and a current ratio of 0.81.

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

A number of hedge funds have recently made changes to their positions in BLKB. State Street Corp boosted its stake in Blackbaud by 37.0% during the second quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock valued at $136,159,000 after buying an additional 428,948 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Blackbaud in the 2nd quarter valued at $375,000. FMR LLC boosted its position in shares of Blackbaud by 142.0% in the 2nd quarter. FMR LLC now owns 345,736 shares of the technology company’s stock valued at $29,647,000 after purchasing an additional 202,843 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Blackbaud in the 2nd quarter valued at $12,284,000. Finally, BlackRock Inc. boosted its position in shares of Blackbaud by 1.7% in the 4th quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock valued at $477,772,000 after purchasing an additional 85,826 shares during the period.

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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).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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