Blackbaud, Inc. (NASDAQ:BLKB) Receives $85.33 Consensus Price Target from Analysts

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) has been given an average rating of "Hold" by the five research firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $85.33.

Separately, Robert W. Baird dropped their target price on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th.

Hedge Funds Weigh In On Blackbaud

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in Blackbaud by 127.4% in the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock worth $32,000 after purchasing an additional 293 shares in the last quarter. UMB Bank n.a. raised its position in shares of Blackbaud by 63.2% in the first quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after buying an additional 268 shares in the last quarter. Vestcor Inc bought a new stake in Blackbaud during the fourth quarter valued at $75,000. TD Private Client Wealth LLC grew its position in Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company's stock worth $99,000 after buying an additional 347 shares in the last quarter. Finally, KBC Group NV increased its stake in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company's stock worth $124,000 after acquiring an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Blackbaud Stock Performance

BLKB traded up $0.33 during trading hours on Thursday, hitting $61.55. The stock had a trading volume of 267,824 shares, compared to its average volume of 234,214. Blackbaud has a 1 year low of $58.05 and a 1 year high of $88.95. The company's fifty day simple moving average is $66.13 and its 200 day simple moving average is $75.37. The stock has a market cap of $3.03 billion, a PE ratio of -10.43 and a beta of 1.04. 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 (NASDAQ:BLKB - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). The business had revenue of $302.23 million during the quarter, compared to analysts' expectations of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Equities analysts anticipate that Blackbaud will post 3.05 earnings per share for the current year.

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.