Blackbaud (NASDAQ:BLKB) Reaches New 52-Week Low – Time to Sell?

Blackbaud, Inc. (NASDAQ:BLKB) shares hit a new 52-week low on Monday . The company traded as low as $61.22 and last traded at $61.50, with a volume of 6423 shares changing hands. The stock had previously closed at $62.11.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price objective on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackbaud currently has a consensus rating of “Hold” and a consensus target price of $85.33.

Blackbaud Price Performance

The stock’s 50-day moving average is $70.60 and its 200 day moving average is $77.47. The company has a market cap of $3.06 billion, a PE ratio of -10.51 and a beta of 1.08. 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 announced its 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 business had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. On average, equities analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Institutional Trading of Blackbaud

Several large investors have recently bought and sold shares of the stock. Vestcor Inc acquired a new stake in shares of Blackbaud during the fourth quarter worth $75,000. TD Private Client Wealth LLC lifted its position in Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after acquiring an additional 347 shares during the period. KBC Group NV grew its stake in Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after purchasing an additional 424 shares during the last quarter. Huntington National Bank increased its holdings in shares of Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after purchasing an additional 227 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 94.21% 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.