Wall Street brokerages predict that Blackbaud, Inc. (NASDAQ:BLKB) will report sales of $204.15 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Blackbaud’s earnings, with the lowest sales estimate coming in at $203.26 million and the highest estimate coming in at $205.20 million. Blackbaud reported sales of $183.62 million in the same quarter last year, which indicates a positive year over year growth rate of 11.2%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, April 30th.
On average, analysts expect that Blackbaud will report full-year sales of $879.86 million for the current fiscal year, with estimates ranging from $877.00 million to $882.00 million. For the next financial year, analysts expect that the business will report sales of $961.89 million per share, with estimates ranging from $949.00 million to $980.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Blackbaud.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $216.98 million for the quarter, compared to analysts’ expectations of $217.29 million. Blackbaud had a return on equity of 29.21% and a net margin of 8.36%.
Several research firms recently commented on BLKB. Zacks Investment Research lowered Blackbaud from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Evercore ISI lowered Blackbaud from an “in” rating to an “underperform” rating in a report on Monday, March 12th. BidaskClub lowered Blackbaud from a “hold” rating to a “sell” rating in a report on Friday, January 19th. Stifel Nicolaus increased their target price on Blackbaud from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 22nd. Finally, DA Davidson set a $110.00 target price on Blackbaud and gave the company a “hold” rating in a report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $102.86.
Shares of NASDAQ BLKB traded down $1.48 during mid-day trading on Tuesday, hitting $108.45. The company had a trading volume of 167,393 shares, compared to its average volume of 274,287. The stock has a market cap of $5,325.13, a P/E ratio of 68.14, a PEG ratio of 5.60 and a beta of 0.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.40. Blackbaud has a 1-year low of $75.93 and a 1-year high of $116.07.
In related news, CFO Anthony W. Boor sold 10,954 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $94.42, for a total transaction of $1,034,276.68. Following the transaction, the chief financial officer now owns 125,224 shares of the company’s stock, valued at $11,823,650.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew M. Leitch sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $102.96, for a total value of $1,029,600.00. Following the transaction, the director now directly owns 28,848 shares in the company, valued at approximately $2,970,190.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,612 shares of company stock worth $9,344,203. Corporate insiders own 2.19% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. acquired a new stake in Blackbaud in the fourth quarter valued at about $157,000. First Republic Investment Management Inc. acquired a new stake in Blackbaud in the fourth quarter valued at about $204,000. Zeke Capital Advisors LLC acquired a new stake in Blackbaud in the fourth quarter valued at about $213,000. Two Sigma Advisers LP acquired a new stake in Blackbaud in the fourth quarter valued at about $217,000. Finally, LPL Financial LLC acquired a new stake in Blackbaud in the fourth quarter valued at about $244,000.
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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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