Blackbaud, Inc. (BLKB) PT Set at $85.00 by Robert W. Baird
Blackbaud, Inc. (NASDAQ:BLKB) has been given a $85.00 target price by equities research analysts at Robert W. Baird in a research note issued on Sunday. The firm presently has a “hold” rating on the technology company’s stock. Robert W. Baird’s target price would suggest a potential downside of 3.19% from the stock’s previous close.
Several other research firms have also recently issued reports on BLKB. Benchmark Co. cut their price target on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, June 27th. Stifel Nicolaus reissued a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a report on Friday, July 21st. Zacks Investment Research raised shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. B. Riley reissued a “neutral” rating and set a $78.00 price objective on shares of Blackbaud in a report on Wednesday, August 2nd. Finally, Citigroup Inc. assumed coverage on shares of Blackbaud in a research report on Friday, September 22nd. They issued a “buy” rating and a $100.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $85.25.
Shares of Blackbaud (NASDAQ:BLKB) traded down 0.31% during mid-day trading on Friday, reaching $87.53. The company’s stock had a trading volume of 125,878 shares. The firm has a market capitalization of $4.08 billion, a PE ratio of 84.24 and a beta of 0.84. Blackbaud has a 52 week low of $55.88 and a 52 week high of $93.81. The firm has a 50-day moving average of $84.91 and a 200-day moving average of $82.88.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.12). Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business had revenue of $192.50 million for the quarter, compared to analysts’ expectations of $193.66 million. During the same quarter last year, the company posted $0.46 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Blackbaud will post $2.13 earnings per share for the current fiscal year.
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In other Blackbaud news, SVP Jon W. Olson sold 5,282 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.24, for a total value of $444,955.68. Following the transaction, the senior vice president now owns 50,756 shares of the company’s stock, valued at $4,275,685.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin W. Mooney sold 2,338 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $88.00, for a total transaction of $205,744.00. Following the completion of the transaction, the executive vice president now directly owns 83,638 shares in the company, valued at approximately $7,360,144. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,752 shares of company stock valued at $1,771,517. 2.19% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of BLKB. ETF Managers Group LLC acquired a new stake in shares of Blackbaud during the 2nd quarter worth approximately $125,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Blackbaud by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after purchasing an additional 39 shares during the last quarter. QS Investors LLC lifted its holdings in shares of Blackbaud by 157.1% in the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Blackbaud by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after purchasing an additional 163 shares during the last quarter. Finally, Investment Centers of America Inc. bought a new stake in shares of Blackbaud in the 2nd quarter worth approximately $203,000.
Blackbaud Company Profile
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).
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