Brokerages expect that Blackbaud, Inc. (NASDAQ:BLKB) will announce $204.15 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Blackbaud’s earnings, with the highest sales estimate coming in at $205.20 million and the lowest estimate coming in at $203.26 million. Blackbaud reported sales of $183.62 million during the same quarter last year, which indicates a positive year over year growth rate of 11.2%. The firm is scheduled to issue its next earnings report after the market closes on Monday, April 30th.
According to Zacks, analysts expect that Blackbaud will report full year sales of $879.86 million for the current financial year, with estimates ranging from $877.00 million to $882.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $961.89 million per share, with estimates ranging from $949.00 million to $980.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Blackbaud.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, February 6th. The technology company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. The business had revenue of $216.98 million for the quarter, compared to analyst estimates of $217.29 million. Blackbaud had a return on equity of 29.21% and a net margin of 8.36%.
Several research analysts have commented on the company. Zacks Investment Research lowered Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday, April 10th. Stifel Nicolaus raised their price objective on Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. ValuEngine raised Blackbaud from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, DA Davidson assumed coverage on Blackbaud in a research report on Friday, February 2nd. They issued a “neutral” rating and a $95.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $101.25.
Shares of BLKB opened at $106.84 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $5,087.62, a P/E ratio of 67.19, a PEG ratio of 5.35 and a beta of 0.65. Blackbaud has a twelve month low of $75.80 and a twelve month high of $116.07.
In other news, CFO Anthony W. Boor sold 10,954 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $94.42, for a total transaction of $1,034,276.68. Following the completion of the sale, the chief financial officer now directly owns 125,224 shares in the company, valued at $11,823,650.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 6,089 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $100.00, for a total value of $608,900.00. The disclosure for this sale can be found here. Insiders sold 94,612 shares of company stock worth $9,344,203 over the last three months. 2.19% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in shares of Blackbaud by 5.7% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 9,775 shares of the technology company’s stock valued at $924,000 after acquiring an additional 525 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Blackbaud by 47.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,793 shares of the technology company’s stock valued at $264,000 after acquiring an additional 897 shares in the last quarter. Jefferies Group LLC grew its stake in shares of Blackbaud by 16.3% during the fourth quarter. Jefferies Group LLC now owns 6,392 shares of the technology company’s stock valued at $604,000 after acquiring an additional 898 shares in the last quarter. Campbell Newman Asset Management Inc. grew its stake in shares of Blackbaud by 22.3% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 6,510 shares of the technology company’s stock valued at $615,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Koch Industries Inc. grew its stake in shares of Blackbaud by 23.5% during the fourth quarter. Koch Industries Inc. now owns 8,252 shares of the technology company’s stock valued at $780,000 after acquiring an additional 1,568 shares in the last quarter.
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Blackbaud Company Profile
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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