Blackbaud (NASDAQ:BLKB) Issues FY24 Earnings Guidance

Blackbaud (NASDAQ:BLKB) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.12-4.38 for the period, compared to the consensus EPS estimate of $4.25. The company issued revenue guidance of $1.164-1.194 billion, compared to the consensus revenue estimate of $1.18 billion. Blackbaud also updated its FY 2024 guidance to 4.120-4.380 EPS.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Blackbaud from a hold rating to a buy rating in a report on Wednesday, May 8th.

Blackbaud Stock Performance

Shares of NASDAQ BLKB traded up $0.35 during midday trading on Tuesday, reaching $80.36. 277,134 shares of the company were exchanged, compared to its average volume of 252,015. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.91. Blackbaud has a 1 year low of $64.32 and a 1 year high of $88.56. The stock has a fifty day simple moving average of $77.25 and a 200 day simple moving average of $76.43. The stock has a market cap of $4.15 billion, a P/E ratio of 196.00 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. The firm had revenue of $279.25 million for the quarter, compared to analyst estimates of $282.22 million. On average, research analysts forecast that Blackbaud will post 2.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP David J. Benjamin sold 1,768 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $77.50, for a total value of $137,020.00. Following the completion of the sale, the executive vice president now owns 57,739 shares in the company, valued at $4,474,772.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Kevin P. Gregoire sold 9,902 shares of Blackbaud stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $79.54, for a total transaction of $787,605.08. Following the completion of the sale, the chief operating officer now directly owns 118,739 shares in the company, valued at approximately $9,444,500.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David J. Benjamin sold 1,768 shares of Blackbaud stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $77.50, for a total transaction of $137,020.00. Following the sale, the executive vice president now owns 57,739 shares of the company’s stock, valued at $4,474,772.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,476 shares of company stock valued at $2,547,161 over the last quarter. 1.95% of the stock is currently owned by insiders.

About Blackbaud

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.