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

Shares of Blackbaud, Inc. (NASDAQ:BLKB) gapped up prior to trading 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 Ratings Changes

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

Blackbaud Stock Up 4.5%

The firm has a market capitalization of $1.40 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. 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 firm has a 50-day moving average of $30.78 and a two-hundred day moving average of $42.90.

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

Insider Buying and Selling at Blackbaud

In related news, CFO Chad Anderson sold 6,205 shares of Blackbaud stock in a transaction on Monday, June 1st. The shares were sold at an average price of $31.31, for a total transaction of $194,278.55. Following the transaction, the chief financial officer owned 62,869 shares in the company, valued at approximately $1,968,428.39. The trade was a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Several institutional investors and hedge funds have recently modified their holdings of BLKB. Altshuler Shaham Ltd bought a new position in shares of Blackbaud during the first quarter worth about $29,000. Parallel Advisors LLC lifted its holdings in Blackbaud by 528.0% during the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock worth $30,000 after buying an additional 660 shares during the last quarter. Blue Trust Inc. grew its position in shares of Blackbaud by 44.3% in the 1st quarter. Blue Trust Inc. now owns 867 shares of the technology company’s stock worth $33,000 after acquiring an additional 266 shares in the last quarter. Rothschild Investment LLC grew its position in shares of Blackbaud by 589.0% in the 4th quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock worth $36,000 after acquiring an additional 483 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Blackbaud by 243.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,286 shares of the technology company’s stock valued at $38,000 after acquiring an additional 912 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

About Blackbaud

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.