Blackbaud (NASDAQ:BLKB) Updates FY 2024 Earnings Guidance

Blackbaud (NASDAQ:BLKB) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.120-4.380 for the period, compared to the consensus EPS estimate of 4.260. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. Blackbaud also updated its FY24 guidance to $4.12-4.38 EPS.

Blackbaud Stock Up 0.4 %

Shares of BLKB traded up $0.35 during trading hours on Tuesday, reaching $80.36. The stock had a trading volume of 277,134 shares, compared to its average volume of 252,015. The firm has a 50-day simple moving average of $77.24 and a 200 day simple moving average of $76.44. Blackbaud has a 12 month low of $64.32 and a 12 month high of $88.56. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 195.69 and a beta of 1.01.

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

Analysts Set New Price Targets

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

Insider Activity at Blackbaud

In other Blackbaud news, EVP David J. Benjamin sold 1,768 shares of Blackbaud stock in a transaction 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 transaction, the executive vice president now directly owns 57,739 shares of the company’s stock, valued at approximately $4,474,772.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blackbaud news, CFO Anthony W. Boor sold 1,106 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $78.86, for a total value of $87,219.16. Following the transaction, the chief financial officer now owns 150,262 shares of the company’s stock, valued at $11,849,661.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David J. Benjamin sold 1,768 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $77.50, for a total transaction of $137,020.00. Following the completion of the transaction, the executive vice president now directly owns 57,739 shares in the company, 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 90 days. Insiders own 1.95% of the company’s stock.

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.