Blackbaud (NASDAQ:BLKB) Shares Gap Up – Here’s Why

Shares of Blackbaud, Inc. (NASDAQ:BLKB) gapped up before the market opened on Tuesday . The stock had previously closed at $29.27, but opened at $30.35. Blackbaud shares last traded at $30.49, with a volume of 37,070 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLKB. Robert W. Baird raised shares of Blackbaud from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $60.00 to $50.00 in a report on Thursday, April 30th. Weiss Ratings downgraded Blackbaud from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, June 16th. Stifel Nicolaus dropped their price target on Blackbaud from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, April 28th. Finally, Zacks Research downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Blackbaud has a consensus rating of “Hold” and an average price target of $52.50.

Blackbaud Trading Up 4.5%

The firm has a 50-day moving average of $30.78 and a 200 day moving average of $42.90. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.07 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The company had revenue of $281.14 million during the quarter, compared to analysts’ expectations of $279.81 million. Blackbaud had a return on equity of 176.76% and a net margin of 12.41%.The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, equities analysts predict that Blackbaud, Inc. will post 3.57 EPS for the current fiscal year.

Insider Transactions at Blackbaud

In related news, CFO Chad Anderson sold 6,205 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $31.31, for a total value of $194,278.55. Following the completion of the transaction, the chief financial officer owned 62,869 shares in the company, valued at $1,968,428.39. This represents a 8.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BLKB. Northwestern Mutual Wealth Management Co. increased its stake in shares of Blackbaud by 143,409.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock valued at $139,759,000 after acquiring an additional 2,205,641 shares during the period. Janus Henderson Group PLC boosted its stake in Blackbaud by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 1,555,833 shares of the technology company’s stock valued at $60,071,000 after purchasing an additional 58,806 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Blackbaud by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 975,085 shares of the technology company’s stock valued at $61,743,000 after purchasing an additional 5,709 shares during the period. Greenhouse Funds LLLP raised its stake in shares of Blackbaud by 13.7% in the 3rd quarter. Greenhouse Funds LLLP now owns 802,904 shares of the technology company’s stock worth $51,635,000 after buying an additional 96,457 shares in the last quarter. Finally, Van Berkom & Associates Inc. raised its stake in shares of Blackbaud by 16.7% in the 4th quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock worth $49,385,000 after buying an additional 111,388 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Company Profile

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.