Blackbaud (BLKB) Stock Rating Lowered by BidaskClub

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BidaskClub downgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a sell rating in a report published on Tuesday morning.

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Blackbaud from a buy rating to a hold rating in a report on Tuesday, October 9th. DA Davidson lowered their price target on Blackbaud from $105.00 to $82.00 and set a hold rating on the stock in a report on Tuesday, October 9th. Needham & Company LLC initiated coverage on Blackbaud in a report on Wednesday, July 18th. They set a hold rating on the stock. Raymond James cut Blackbaud from an outperform rating to a market perform rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research cut Blackbaud from a hold rating to a sell rating in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $96.88.

BLKB opened at $71.64 on Tuesday. The company has a market capitalization of $3.65 billion, a P/E ratio of 45.06, a PEG ratio of 5.47 and a beta of 0.61. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.77 and a current ratio of 0.77. Blackbaud has a 1-year low of $69.62 and a 1-year high of $120.35.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, July 30th. The technology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $214.60 million for the quarter, compared to analysts’ expectations of $214.80 million. Blackbaud had a return on equity of 27.70% and a net margin of 8.14%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, equities research analysts forecast that Blackbaud will post 1.64 earnings per share for the current fiscal year.

In other Blackbaud news, Director George H. Ellis sold 2,652 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $96.16, for a total transaction of $255,016.32. Following the sale, the director now owns 7,730 shares in the company, valued at approximately $743,316.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew M. Leitch sold 3,000 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $95.72, for a total value of $287,160.00. Following the sale, the director now owns 24,457 shares in the company, valued at approximately $2,341,024.04. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in BLKB. Smithfield Trust Co. lifted its stake in shares of Blackbaud by 2,492.5% during the 2nd quarter. Smithfield Trust Co. now owns 1,037 shares of the technology company’s stock worth $106,000 after purchasing an additional 997 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Blackbaud during the 2nd quarter worth $129,000. Global X Management Co LLC purchased a new position in shares of Blackbaud during the 2nd quarter worth $163,000. First Republic Investment Management Inc. purchased a new position in shares of Blackbaud during the 2nd quarter worth $261,000. Finally, ING Groep NV purchased a new position in shares of Blackbaud during the 2nd quarter worth $270,000.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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