Brokerages Set Blackbaud, Inc. (NASDAQ:BLKB) Price Target at $86.67

Blackbaud, Inc. (NASDAQ:BLKB) has received a consensus rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $85.33.

Several research analysts have recently issued reports on the stock. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird lowered their price target on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th.

Hedge Funds Weigh In On Blackbaud

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,047 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Blackbaud by 20.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 320,058 shares of the technology company’s stock worth $27,103,000 after buying an additional 54,138 shares during the last quarter. Angeles Wealth Management LLC purchased a new position in shares of Blackbaud in the 3rd quarter worth approximately $297,000. First Personal Financial Services grew its position in shares of Blackbaud by 25.9% in the 3rd quarter. First Personal Financial Services now owns 16,640 shares of the technology company’s stock worth $1,409,000 after buying an additional 3,424 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its position in shares of Blackbaud by 94.9% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 5,153 shares of the technology company’s stock worth $436,000 after buying an additional 2,509 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $66.86 on Wednesday. The business’s 50 day moving average price is $75.74 and its two-hundred day moving average price is $80.09. The company has a market cap of $3.29 billion, a PE ratio of -11.33 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. Blackbaud has a twelve month low of $66.07 and a twelve month high of $88.95.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.50). The company had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. On average, analysts predict that Blackbaud will post 3.05 EPS for the current year.

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.