Zacks Research Weighs in on Blackbaud, Inc.’s Q2 2024 Earnings (NASDAQ:BLKB)

Blackbaud, Inc. (NASDAQ:BLKB) – Equities research analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for Blackbaud in a research note issued on Tuesday, May 21st. Zacks Research analyst R. Department now anticipates that the technology company will post earnings of $0.55 per share for the quarter, down from their prior estimate of $0.59. The consensus estimate for Blackbaud’s current full-year earnings is $2.27 per share. Zacks Research also issued estimates for Blackbaud’s Q4 2024 earnings at $0.60 EPS, FY2024 earnings at $2.22 EPS, Q1 2025 earnings at $0.45 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.31 EPS, Q1 2026 earnings at $0.42 EPS and FY2026 earnings at $0.81 EPS.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $279.25 million for the quarter, compared to the consensus estimate of $282.22 million. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%.

BLKB has been the subject of a number of other research reports. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird reduced their target price on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th.

Blackbaud Price Performance

BLKB stock opened at $79.32 on Thursday. The business has a 50 day simple moving average of $75.95 and a 200-day simple moving average of $77.67. The company has a market capitalization of $4.10 billion, a P/E ratio of 193.47 and a beta of 1.01. Blackbaud has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.91.

Institutional Trading of Blackbaud

A number of institutional investors have recently modified their holdings of the business. Ancora Advisors LLC acquired a new stake in Blackbaud in the first quarter valued at $2,081,000. Janus Henderson Group PLC increased its holdings in shares of Blackbaud by 1.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock valued at $210,599,000 after purchasing an additional 53,057 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in shares of Blackbaud by 1,107.5% in the first quarter. Kennedy Capital Management LLC now owns 33,908 shares of the technology company’s stock valued at $2,514,000 after purchasing an additional 31,100 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Blackbaud by 7.5% during the first quarter. Public Employees Retirement System of Ohio now owns 100,422 shares of the technology company’s stock worth $7,445,000 after buying an additional 7,049 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Blackbaud by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock worth $28,768,000 after buying an additional 10,555 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Anthony W. Boor sold 3,100 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total transaction of $246,388.00. Following the completion of the sale, the chief financial officer now directly owns 158,268 shares of the company’s stock, valued at $12,579,140.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Anthony W. Boor sold 3,100 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.48, for a total transaction of $246,388.00. Following the transaction, the chief financial officer now directly owns 158,268 shares in the company, valued at $12,579,140.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael P. Gianoni sold 5,799 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.02, for a total transaction of $429,241.98. Following the completion of the sale, the chief executive officer now owns 402,060 shares of the company’s stock, valued at approximately $29,760,481.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,543 shares of company stock valued at $2,869,310. Company insiders own 1.95% of the company’s stock.

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.