$242.67 Million in Sales Expected for Blackbaud, Inc. (NASDAQ:BLKB) This Quarter

Analysts expect Blackbaud, Inc. (NASDAQ:BLKB) to post sales of $242.67 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Blackbaud’s earnings. The lowest sales estimate is $240.15 million and the highest is $245.19 million. Blackbaud reported sales of $242.61 million during the same quarter last year, which would suggest a positive year over year growth rate of 0%. The business is scheduled to issue its next earnings report on Monday, February 14th.

According to Zacks, analysts expect that Blackbaud will report full year sales of $922.52 million for the current year, with estimates ranging from $920.00 million to $925.04 million. For the next year, analysts anticipate that the business will report sales of $940.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Blackbaud.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, November 2nd. The technology company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.65. Blackbaud had a negative net margin of 0.09% and a positive return on equity of 13.34%. The business had revenue of $231.22 million during the quarter, compared to analysts’ expectations of $219.46 million. During the same quarter last year, the company earned $0.39 earnings per share.

Separately, Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “sell” rating and set a $82.00 price target on the stock. in a research report on Wednesday, January 5th.

Shares of Blackbaud stock traded down $0.36 during midday trading on Friday, reaching $72.02. The company had a trading volume of 396,423 shares, compared to its average volume of 376,112. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -7,194.81 and a beta of 1.04. The stock has a fifty day simple moving average of $78.40 and a 200 day simple moving average of $73.91. Blackbaud has a 1-year low of $60.01 and a 1-year high of $86.96.

In related news, insider Kevin P. Gregoire sold 3,268 shares of the firm’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $80.00, for a total transaction of $261,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Gianoni sold 4,980 shares of the firm’s stock in a transaction that occurred on Thursday, November 4th. The shares were sold at an average price of $82.00, for a total transaction of $408,360.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,831 shares of company stock valued at $1,768,440. Corporate insiders own 1.33% of the company’s stock.

Several hedge funds have recently made changes to their positions in BLKB. Financial Management Professionals Inc. bought a new position in Blackbaud during the 3rd quarter valued at about $29,000. Advisory Services Network LLC bought a new position in shares of Blackbaud during the 2nd quarter valued at approximately $65,000. Dark Forest Capital Management LP bought a new position in shares of Blackbaud during the 2nd quarter valued at approximately $78,000. Heritage Wealth Management LLC boosted its position in shares of Blackbaud by 90.0% during the 2nd quarter. Heritage Wealth Management LLC now owns 1,049 shares of the technology company’s stock valued at $80,000 after acquiring an additional 497 shares during the last quarter. Finally, Private Capital Group LLC lifted its position in Blackbaud by 16.0% in the third quarter. Private Capital Group LLC now owns 1,160 shares of the technology company’s stock worth $82,000 after buying an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 98.60% of the company’s stock.

Blackbaud Company Profile

Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.

Read More: Dividend Reinvestment Plan (DRIP)

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