Blackbaud (BLKB) PT Raised to $120.00

Blackbaud (NASDAQ:BLKB) had its price target increased by research analysts at Stifel Nicolaus from $105.00 to $120.00 in a report released on Thursday. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price points to a potential upside of 16.16% from the company’s current price.

A number of other research analysts also recently commented on the stock. DA Davidson set a $110.00 target price on shares of Blackbaud and gave the company a “hold” rating in a research report on Thursday, March 15th. Evercore ISI cut shares of Blackbaud from an “in” rating to an “underperform” rating in a report on Monday, March 12th. BidaskClub upgraded shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Zacks Investment Research cut shares of Blackbaud from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, B. Riley raised their price target on shares of Blackbaud from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $101.25.

Blackbaud stock opened at $103.31 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.40. The company has a market cap of $5,136.66, a PE ratio of 64.36, a price-to-earnings-growth ratio of 5.41 and a beta of 0.66. Blackbaud has a 12-month low of $74.46 and a 12-month high of $116.07.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, February 6th. The technology company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $216.98 million for the quarter, compared to the consensus estimate of $217.29 million. Blackbaud had a net margin of 8.36% and a return on equity of 29.21%. equities research analysts expect that Blackbaud will post 2.06 earnings per share for the current fiscal year.

In related news, insider Michael P. Gianoni sold 4,225 shares of Blackbaud stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $94.79, for a total value of $400,487.75. Following the completion of the sale, the insider now directly owns 256,966 shares in the company, valued at approximately $24,357,807.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Gianoni sold 28,839 shares of Blackbaud stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $96.84, for a total transaction of $2,792,768.76. Following the completion of the sale, the insider now owns 332,419 shares of the company’s stock, valued at $32,191,455.96. The disclosure for this sale can be found here. Insiders sold a total of 94,612 shares of company stock worth $9,344,203 over the last 90 days. Company insiders own 2.19% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in BLKB. BlackRock Inc. boosted its stake in Blackbaud by 1.7% in the 4th quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock worth $477,772,000 after purchasing an additional 85,826 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Blackbaud by 464.6% in the 4th quarter. Guggenheim Capital LLC now owns 94,602 shares of the technology company’s stock worth $8,939,000 after purchasing an additional 77,847 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Blackbaud by 11.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 730,244 shares of the technology company’s stock worth $69,001,000 after purchasing an additional 72,430 shares in the last quarter. State of Tennessee Treasury Department acquired a new stake in Blackbaud in the 4th quarter worth approximately $6,614,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Blackbaud in the 4th quarter worth approximately $4,887,000.

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About Blackbaud

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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