Blackbaud (NASDAQ:BLKB) Issues Earnings Results

Blackbaud (NASDAQ:BLKB) released its earnings results on Tuesday. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04, Briefing.com reports. Blackbaud had a net margin of 3.64% and a return on equity of 17.65%. The firm had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. During the same period in the prior year, the firm earned $0.49 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Blackbaud updated its FY24 guidance to $4.12-4.38 EPS and its FY 2024 guidance to 4.120-4.380 EPS.

Blackbaud Stock Down 1.2 %

BLKB opened at $79.38 on Thursday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.67 and a quick ratio of 0.67. Blackbaud has a one year low of $64.32 and a one year high of $88.56. The firm has a market capitalization of $4.10 billion, a P/E ratio of 193.61 and a beta of 1.01. The company has a fifty day moving average price of $77.25 and a 200-day moving average price of $76.41.

Insider Activity at Blackbaud

In other Blackbaud news, EVP David J. Benjamin sold 16,700 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $77.81, for a total value of $1,299,427.00. Following the transaction, the executive vice president now directly owns 74,458 shares in the company, valued at approximately $5,793,576.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP David J. Benjamin sold 16,700 shares of Blackbaud stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $77.81, for a total transaction of $1,299,427.00. Following the completion of the sale, the executive vice president now directly owns 74,458 shares of the company’s stock, valued at approximately $5,793,576.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jon W. Olson sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $78.63, for a total value of $235,890.00. Following the transaction, the senior vice president now directly owns 33,628 shares in the company, valued at $2,644,169.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,476 shares of company stock valued at $2,547,161. Company insiders own 1.95% of the company’s stock.

Analysts Set New Price Targets

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

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.