Blackbaud (NASDAQ:BLKB) Reaches New 1-Year Low – What’s Next?

Blackbaud, Inc. (NASDAQ:BLKB) reached a new 52-week low on Thursday . The company traded as low as $63.51 and last traded at $63.22, with a volume of 235210 shares. The stock had previously closed at $64.70.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price target on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackbaud has an average rating of “Hold” and a consensus target price of $85.33.

Blackbaud Trading Down 2.2 %

The business’s fifty day moving average is $73.56 and its 200-day moving average is $79.11. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a market cap of $3.12 billion, a P/E ratio of -10.73 and a beta of 1.09.

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 business had revenue of $302.23 million for 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%. Analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vestcor Inc acquired a new stake in shares of Blackbaud in the fourth quarter valued at about $75,000. TD Private Client Wealth LLC boosted its holdings in Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after acquiring an additional 347 shares during the last quarter. KBC Group NV increased its position 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 period. Meeder Asset Management Inc. bought a new position in Blackbaud during the 3rd quarter worth approximately $142,000. Finally, Huntington National Bank lifted its position in shares of Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after purchasing an additional 227 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Company Profile

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.