BidaskClub Downgrades Blackbaud (NASDAQ:BLKB) to Sell

BidaskClub downgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a sell rating in a research report report published on Saturday, BidAskClub reports.

A number of other research analysts have also issued reports on the stock. Needham & Company LLC reissued a hold rating on shares of Blackbaud in a research note on Wednesday, May 6th. BTIG Research started coverage on shares of Blackbaud in a research note on Thursday, April 16th. They issued a neutral rating for the company. ValuEngine lowered shares of Blackbaud from a buy rating to a hold rating in a research note on Friday, April 17th. Finally, DA Davidson reduced their price target on shares of Blackbaud from $89.00 to $50.00 and set a neutral rating for the company in a research note on Tuesday, April 7th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company presently has a consensus rating of Hold and an average price target of $80.75.

Blackbaud stock opened at $57.08 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average price of $57.36 and a two-hundred day moving average price of $64.86. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 154.27, a PEG ratio of 11.72 and a beta of 1.10. Blackbaud has a 52-week low of $38.22 and a 52-week high of $97.35.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $223.62 million during the quarter, compared to analyst estimates of $221.97 million. Blackbaud had a net margin of 1.95% and a return on equity of 15.99%. Blackbaud’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. Research analysts expect that Blackbaud will post 1.11 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in BLKB. Citigroup Inc. boosted its holdings in shares of Blackbaud by 134.3% during the 4th quarter. Citigroup Inc. now owns 22,318 shares of the technology company’s stock worth $1,777,000 after buying an additional 12,794 shares during the period. FMR LLC boosted its holdings in shares of Blackbaud by 31.0% during the 4th quarter. FMR LLC now owns 969,318 shares of the technology company’s stock worth $77,158,000 after buying an additional 229,289 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Blackbaud by 392.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 47,928 shares of the technology company’s stock worth $2,662,000 after buying an additional 38,198 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Blackbaud by 21.9% during the 1st quarter. Baird Financial Group Inc. now owns 26,085 shares of the technology company’s stock worth $1,449,000 after buying an additional 4,692 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Blackbaud by 28.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,893 shares of the technology company’s stock worth $328,000 after buying an additional 1,297 shares during the period.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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