Blackbaud, Inc. (NASDAQ:BLKB) Stock Has Consensus Price Target of $52.00 According to Brokerages

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $52.00.

Several equities analysts have recently weighed in on BLKB shares. Robert W. Baird set a $68.00 price objective on shares of Blackbaud in a report on Thursday, October 29th. Weiss Ratings upgraded Blackbaud from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Blackbaud in a research report on Wednesday, July 29th.

Insider Transactions at Blackbaud

In other Blackbaud news, CEO Michael Gianoni sold 17,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $47.35, for a total transaction of $804,950.00. Following the transaction, the chief executive officer owned 423,264 shares in the company, valued at approximately $20,041,550.40. This represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Chad Anderson sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $47.56, for a total transaction of $95,120.00. Following the transaction, the chief financial officer owned 59,883 shares in the company, valued at approximately $2,848,035.48. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,086 shares of company stock valued at $1,967,361 over the last ninety days. Company insiders own 2.01% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

Several large investors have recently added to or reduced their stakes in BLKB. Performa Ltd US LLC lifted its holdings in shares of Blackbaud by 337.5% in the second quarter. Performa Ltd US LLC now owns 875 shares of the technology company’s stock valued at $26,000 after purchasing an additional 675 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Blackbaud by 107.1% during the second quarter. Parkside Financial Bank & Trust now owns 959 shares of the technology company’s stock valued at $28,000 after buying an additional 496 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in Blackbaud during the first quarter worth $29,000. Salomon & Ludwin LLC grew its holdings in Blackbaud by 162.5% during the third quarter. Salomon & Ludwin LLC now owns 693 shares of the technology company’s stock worth $29,000 after buying an additional 429 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Blackbaud by 528.0% during the first quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock worth $30,000 after buying an additional 660 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Down 1.5%

Shares of BLKB stock opened at $53.56 on Friday. The company has a market cap of $2.41 billion, a P/E ratio of 16.53, a PEG ratio of 1.85 and a beta of 1.02. Blackbaud has a fifty-two week low of $25.58 and a fifty-two week high of $64.84. The stock has a 50 day simple moving average of $48.42 and a two-hundred day simple moving average of $41.39. The company has a debt-to-equity ratio of 8.55, a quick ratio of 0.68 and a current ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, October 28th. The technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.03. The business had revenue of $292.64 million for the quarter, compared to analyst estimates of $293.93 million. Blackbaud had a net margin of 12.87% and a return on equity of 209.40%. Blackbaud’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. Research analysts forecast that Blackbaud will post 3.74 earnings per share for the current year.

Blackbaud Company Profile

Blackbaud, Inc. develops cloud software and related services for organizations focused on social good. Its customers include nonprofit organizations, foundations, schools and universities, healthcare organizations, and businesses that support charitable causes. The company’s products help customers manage fundraising, donor and constituent relationships, financial operations, marketing, grantmaking, and education administration. Its offerings include tools for online fundraising, payment processing, data analysis, and engagement with supporters, students, and other stakeholders.