Blackbaud (NASDAQ:BLKB) Sets New 1-Year Low – Here’s Why

Shares of Blackbaud, Inc. (NASDAQ:BLKB) reached a new 52-week low on Wednesday . The company traded as low as $66.01 and last traded at $65.89, with a volume of 199361 shares changing hands. The stock had previously closed at $66.86.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BLKB shares. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird lowered their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Blackbaud has a consensus rating of “Hold” and an average target price of $85.33.

Blackbaud Stock Performance

The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The company has a market capitalization of $3.25 billion, a P/E ratio of -11.17 and a beta of 1.08. The business has a 50 day moving average of $75.74 and a 200 day moving average of $80.09.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The firm had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. On average, sell-side analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vestcor Inc acquired a new position in shares of Blackbaud in the 4th quarter valued at $75,000. TD Private Client Wealth LLC lifted its position in Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after buying an additional 347 shares during the last quarter. KBC Group NV grew its stake in shares of Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after buying an additional 424 shares in the last quarter. Huntington National Bank increased its stake in Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after buying an additional 227 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Blackbaud in the 3rd quarter valued at about $142,000. 94.21% of the stock is owned by institutional investors and hedge funds.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.