Blackbaud (NASDAQ:BLKB) Reaches New 12-Month Low – What’s Next?

Blackbaud, Inc. (NASDAQ:BLKB) reached a new 52-week low during trading on Tuesday . The company traded as low as $64.65 and last traded at $65.04, with a volume of 27638 shares changing hands. The stock had previously closed at $65.31.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their price objective on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.33.

Blackbaud Price Performance

The stock’s 50 day simple moving average is $74.91 and its 200-day simple moving average is $79.79. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -10.93 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). The firm had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Equities research analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Blackbaud

A number of institutional investors have recently bought and sold shares of the business. Xponance Inc. boosted its holdings in shares of Blackbaud by 2.4% in the 4th quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock valued at $417,000 after acquiring an additional 130 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Blackbaud by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock worth $2,045,000 after buying an additional 151 shares in the last quarter. Heritage Family Offices LLP grew its position in Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after buying an additional 166 shares during the period. Huntington National Bank increased its stake in shares of Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after purchasing an additional 227 shares in the last quarter. Finally, Brookstone Capital Management boosted its position in Blackbaud by 3.7% during the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after purchasing an additional 275 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Company Profile

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.