Blackbaud (NASDAQ:BLKB) Price Target Raised to $58.00

Blackbaud (NASDAQ:BLKB) had its price target hoisted by Robert W. Baird from $54.00 to $58.00 in a report published on Tuesday, Marketbeat reports. They currently have an outperform rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the company. Weiss Ratings upgraded Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Blackbaud in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus dropped their price objective on Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Blackbaud currently has an average rating of “Hold” and a consensus target price of $49.50.

Blackbaud Trading Down 3.3%

Shares of NASDAQ:BLKB opened at $43.34 on Tuesday. Blackbaud has a 52 week low of $25.58 and a 52 week high of $70.71. The company’s 50 day moving average is $42.18 and its two-hundred day moving average is $37.65. The company has a market cap of $1.97 billion, a PE ratio of 13.54, a P/E/G ratio of 1.54 and a beta of 0.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 16.82.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.10. The business had revenue of $290.60 million during the quarter, compared to analysts’ expectations of $292.23 million. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Equities analysts predict that Blackbaud will post 3.71 earnings per share for the current fiscal year.

Insider Activity at Blackbaud

In related news, EVP Kevin P. Gregoire sold 22,000 shares of Blackbaud stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the sale, the executive vice president directly owned 113,194 shares in the company, valued at $5,150,327. This trade represents a 16.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David J. Benjamin sold 2,086 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $48.27, for a total transaction of $100,691.22. Following the completion of the sale, the executive vice president directly owned 71,038 shares of the company’s stock, valued at approximately $3,429,004.26. This trade represents a 2.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 43,086 shares of company stock worth $2,001,761. Corporate insiders own 2.01% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

Several large investors have recently bought and sold shares of BLKB. AXQ Capital LP lifted its position in Blackbaud by 3.0% during the fourth quarter. AXQ Capital LP now owns 8,307 shares of the technology company’s stock valued at $526,000 after buying an additional 243 shares in the last quarter. Blue Trust Inc. grew its stake in Blackbaud by 44.3% during the first quarter. Blue Trust Inc. now owns 867 shares of the technology company’s stock worth $33,000 after buying an additional 266 shares during the period. Waverly Advisors LLC increased its position in shares of Blackbaud by 1.4% in the second quarter. Waverly Advisors LLC now owns 22,206 shares of the technology company’s stock worth $658,000 after acquiring an additional 301 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Blackbaud by 4.5% in the fourth quarter. ProShare Advisors LLC now owns 8,588 shares of the technology company’s stock worth $544,000 after acquiring an additional 368 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of Blackbaud by 589.0% in the 4th quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock valued at $36,000 after acquiring an additional 483 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc provides cloud software and related services to organizations serving social good. Its customers include nonprofit organizations, educational institutions, healthcare organizations, foundations, faith-based organizations, arts and cultural institutions, and other mission-driven groups.

The company’s solutions support fundraising, donor and constituent relationship management, financial management, grantmaking, marketing, ticketing, education administration, and peer-to-peer and charitable giving.