Blackbaud (BLKB) to Release Earnings on Wednesday

Blackbaud (NASDAQ:BLKB) is set to announce its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $1.05 per share for the quarter. Blackbaud has set its FY24 guidance at $4.12-4.38 EPS and its FY 2024 guidance at 4.120-4.380 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, analysts expect Blackbaud to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Blackbaud Stock Performance

Shares of BLKB stock opened at $87.19 on Wednesday. The company has a market cap of $4.50 billion, a P/E ratio of 212.66 and a beta of 1.02. The firm has a fifty day moving average price of $82.47 and a 200 day moving average price of $79.05. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. Blackbaud has a 12 month low of $64.32 and a 12 month high of $88.56.

Blackbaud declared that its board has initiated a stock buyback program on Tuesday, July 30th that allows the company to buyback $800.00 million in shares. This buyback authorization allows the technology company to purchase up to 18.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BLKB. Evercore ISI upgraded Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price target on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Robert W. Baird lifted their price target on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Raymond James decreased their price objective on Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.67.

Insider Buying and Selling

In other news, EVP Kevin Mcdearis sold 2,261 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total value of $192,456.32. Following the transaction, the executive vice president now owns 60,129 shares of the company’s stock, valued at approximately $5,118,180.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Blackbaud news, EVP Kevin Mcdearis sold 2,261 shares of Blackbaud stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total value of $192,456.32. Following the sale, the executive vice president now owns 60,129 shares of the company’s stock, valued at approximately $5,118,180.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sarah E. Nash sold 3,220 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $76.18, for a total value of $245,299.60. Following the transaction, the director now directly owns 26,823 shares in the company, valued at $2,043,376.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,409 shares of company stock valued at $4,483,193 over the last quarter. 1.95% of the stock is currently owned by insiders.

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.