BidaskClub Downgrades Blackbaud (NASDAQ:BLKB) to Sell

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

A number of other research analysts have also recently weighed in on BLKB. BTIG Research began coverage on shares of Blackbaud in a research note on Thursday, April 16th. They set a neutral rating for the company. Needham & Company LLC reaffirmed a hold rating on shares of Blackbaud in a research note on Wednesday, May 6th. DA Davidson lowered their target price 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. Finally, ValuEngine cut shares of Blackbaud from a buy rating to a hold rating in a research note on Friday, April 17th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Blackbaud has a consensus rating of Hold and a consensus price target of $80.75.

Shares of BLKB opened at $57.08 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $57.36 and a 200-day simple moving average of $64.86. Blackbaud has a 1-year low of $38.22 and a 1-year high of $97.35. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 154.27, a price-to-earnings-growth ratio of 11.72 and a beta of 1.10.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. Blackbaud had a net margin of 1.95% and a return on equity of 15.99%. The business had revenue of $223.62 million during the quarter, compared to analysts’ expectations of $221.97 million. During the same period last year, the company posted $0.51 EPS. The company’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts expect that Blackbaud will post 1.11 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Clean Yield Group acquired a new position in shares of Blackbaud in the 1st quarter valued at $25,000. Private Capital Group LLC boosted its holdings in shares of Blackbaud by 25.2% in the 1st quarter. Private Capital Group LLC now owns 1,208 shares of the technology company’s stock valued at $67,000 after purchasing an additional 243 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Blackbaud by 17.4% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,303 shares of the technology company’s stock valued at $72,000 after purchasing an additional 193 shares during the last quarter. Smithfield Trust Co. boosted its holdings in shares of Blackbaud by 47.0% in the 1st quarter. Smithfield Trust Co. now owns 1,474 shares of the technology company’s stock valued at $82,000 after purchasing an additional 471 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings 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 purchasing an additional 267 shares during the last quarter.

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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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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