Blackbaud, Inc. (NASDAQ:BLKB) Receives $85.33 Average Target Price from Analysts

Blackbaud, Inc. (NASDAQ:BLKB) has been given a consensus rating of “Hold” by the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $85.33.

Separately, Robert W. Baird cut their target price on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th.

Institutional Trading of Blackbaud

Several institutional investors and hedge funds have recently modified their holdings of BLKB. Norges Bank bought a new stake in shares of Blackbaud during the 4th quarter worth $34,168,000. ArrowMark Colorado Holdings LLC lifted its position in shares of Blackbaud by 22.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after buying an additional 235,859 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after buying an additional 154,019 shares during the last quarter. Penn Capital Management Company LLC bought a new stake in shares of Blackbaud during the 4th quarter worth $10,581,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Blackbaud by 41.0% during the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock worth $35,671,000 after buying an additional 140,273 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Stock Performance

BLKB opened at $63.93 on Friday. The business has a fifty day simple moving average of $72.25 and a 200 day simple moving average of $78.35. The company has a market capitalization of $3.15 billion, a PE ratio of -10.84 and a beta of 1.08. Blackbaud has a 1 year low of $62.99 and a 1 year high of $88.95. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last released its quarterly 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). The firm had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Research analysts expect that Blackbaud will post 3.05 EPS for the current year.

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.