Blackbaud, Inc. (BLKB) Given a $85.00 Price Target by Robert W. Baird Analysts
Blackbaud, Inc. (NASDAQ:BLKB) has been assigned a $85.00 target price by research analysts at Robert W. Baird in a research report issued on Sunday. The firm currently has a “hold” rating on the technology company’s stock. Robert W. Baird’s price objective indicates a potential downside of 2.87% from the company’s current price.
Several other equities research analysts have also commented on BLKB. B. Riley reiterated a “neutral” rating and set a $78.00 price target on shares of Blackbaud in a research note on Monday, August 28th. Benchmark Co. reduced their price target on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Blackbaud from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a research note on Friday, July 21st. Finally, Citigroup Inc. assumed coverage on Blackbaud in a report on Friday, September 22nd. They set a “buy” rating and a $100.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $85.25.
Shares of Blackbaud (NASDAQ BLKB) opened at 87.51 on Friday. The firm has a market capitalization of $4.21 billion, a P/E ratio of 84.14 and a beta of 0.84. Blackbaud has a 1-year low of $55.88 and a 1-year high of $93.81. The stock’s 50 day moving average is $84.50 and its 200 day moving average is $83.57.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.12). The company had revenue of $192.50 million for the quarter, compared to analysts’ expectations of $193.66 million. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Equities analysts predict that Blackbaud will post $2.13 earnings per share for the current year.
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In other Blackbaud news, Director George H. Ellis sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $85.40, for a total transaction of $256,200.00. Following the completion of the sale, the director now directly owns 9,011 shares of the company’s stock, valued at approximately $769,539.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 5,282 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.24, for a total value of $444,955.68. Following the sale, the senior vice president now directly owns 50,756 shares of the company’s stock, valued at $4,275,685.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,752 shares of company stock valued at $1,771,517. 2.19% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Blackbaud by 145,653.8% in the first quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock valued at $440,182,000 after purchasing an additional 5,737,302 shares during the period. Janus Henderson Group PLC raised its stake in shares of Blackbaud by 787.4% during the second quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock worth $355,393,000 after purchasing an additional 3,677,492 shares during the last quarter. State Street Corp raised its stake in shares of Blackbaud by 37.0% during the second quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock worth $136,159,000 after purchasing an additional 428,948 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Blackbaud during the second quarter worth approximately $375,000. Finally, Vanguard Group Inc. raised its stake in shares of Blackbaud by 5.1% during the first quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock worth $325,020,000 after purchasing an additional 205,672 shares during the last quarter.
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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