BidaskClub Upgrades Blackbaud (NASDAQ:BLKB) to “Hold”

Blackbaud (NASDAQ:BLKB) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday, BidAskClub reports.

Several other brokerages have also recently weighed in on BLKB. DA Davidson reduced their price target on Blackbaud from $89.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. BTIG Research assumed coverage on Blackbaud in a research report on Thursday, April 16th. They set a “neutral” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Blackbaud in a research report on Wednesday, May 6th. Finally, ValuEngine cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Friday, April 17th. Seven research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $81.00.

BLKB stock opened at $62.54 on Friday. The company has a market capitalization of $3.10 billion, a P/E ratio of 135.96, a price-to-earnings-growth ratio of 13.20 and a beta of 1.14. Blackbaud has a 12 month low of $38.22 and a 12 month high of $97.35. The firm’s fifty day simple moving average is $57.18 and its 200-day simple moving average is $61.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.78 and a quick ratio of 0.69.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.35. The company had revenue of $231.99 million during the quarter, compared to the consensus estimate of $217.74 million. Blackbaud had a net margin of 2.44% and a return on equity of 16.68%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, sell-side analysts forecast that Blackbaud will post 1.11 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. FMR LLC boosted its position in shares of Blackbaud by 230.0% during the 1st quarter. FMR LLC now owns 538,047 shares of the technology company’s stock valued at $42,898,000 after acquiring an additional 374,999 shares during the last quarter. First Trust Advisors LP acquired a new position in Blackbaud in the 1st quarter valued at about $488,000. Advisor Group Inc. grew its stake in shares of Blackbaud by 21.6% in the 4th quarter. Advisor Group Inc. now owns 1,503 shares of the technology company’s stock valued at $120,000 after buying an additional 267 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Blackbaud during the 4th quarter worth approximately $2,404,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of Blackbaud by 3.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 51,672 shares of the technology company’s stock valued at $4,113,000 after buying an additional 1,565 shares during the period.

About Blackbaud

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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