Blackbaud, Inc. (NASDAQ:BLKB)’s share price traded up 14.8% on Thursday following a stronger than expected earnings report. The company traded as high as $65.90 and last traded at $64.92, 1,530,191 shares traded hands during mid-day trading. An increase of 231% from the average session volume of 462,318 shares. The stock had previously closed at $56.55.
The technology company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.35. Blackbaud had a return on equity of 16.94% and a net margin of 2.44%. The business had revenue of $231.99 million during the quarter, compared to analysts’ expectations of $217.74 million. During the same period in the previous year, the firm earned $0.66 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year.
A number of equities research analysts recently commented on the company. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a research note on Friday. DA Davidson decreased their price objective on Blackbaud from $89.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. BTIG Research started coverage on Blackbaud in a research note on Thursday, April 16th. They set a “neutral” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of Blackbaud in a research note on Wednesday, May 6th. Finally, ValuEngine cut Blackbaud from a “buy” rating to a “hold” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $80.75.
A number of large investors have recently bought and sold shares of BLKB. FMR LLC grew its stake in Blackbaud by 230.0% in the first quarter. FMR LLC now owns 538,047 shares of the technology company’s stock valued at $42,898,000 after acquiring an additional 374,999 shares during the period. First Trust Advisors LP acquired a new position in Blackbaud in the first quarter valued at about $488,000. Advisor Group Inc. lifted its holdings in shares of Blackbaud by 21.6% in the fourth quarter. Advisor Group Inc. now owns 1,503 shares of the technology company’s stock valued at $120,000 after purchasing an additional 267 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Blackbaud in the fourth quarter valued at about $2,404,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Blackbaud by 3.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 51,672 shares of the technology company’s stock valued at $4,113,000 after purchasing an additional 1,565 shares in the last quarter.
The company has a market capitalization of $3.11 billion, a P/E ratio of 135.96, a price-to-earnings-growth ratio of 11.94 and a beta of 1.14. The business has a fifty day moving average price of $57.18 and a 200 day moving average price of $61.40. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.61.
About Blackbaud (NASDAQ:BLKB)
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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