Blackbaud, Inc. (NASDAQ:BLKB) Receives $85.33 Consensus Price Target from Brokerages

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been assigned a consensus rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $85.33.

Separately, Robert W. Baird cut their price objective on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th.

Institutional Investors Weigh In On Blackbaud

Several hedge funds have recently added to or reduced their stakes in the company. Procyon Advisors LLC lifted its position in Blackbaud by 8.0% in the 1st quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company’s stock worth $231,000 after buying an additional 275 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Blackbaud by 5,447.8% in the 1st quarter. GAMMA Investing LLC now owns 35,617 shares of the technology company’s stock valued at $2,210,000 after purchasing an additional 34,975 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Blackbaud by 127.4% during the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company’s stock valued at $32,000 after purchasing an additional 293 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Blackbaud by 20.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,573 shares of the technology company’s stock worth $7,213,000 after purchasing an additional 16,890 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in Blackbaud by 350.9% during the fourth quarter. Voloridge Investment Management LLC now owns 95,632 shares of the technology company’s stock valued at $7,069,000 after buying an additional 74,422 shares during the period. Institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 1.5 %

NASDAQ:BLKB opened at $61.13 on Thursday. The firm has a fifty day simple moving average of $66.83 and a two-hundred day simple moving average of $75.68. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -10.36 and a beta of 1.04. Blackbaud has a 12 month low of $58.05 and a 12 month high of $88.95.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. Analysts expect that Blackbaud will post 3.05 EPS for the current fiscal year.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.