Blackbaud (NASDAQ:BLKB) Reaches New 1-Year Low - Time to Sell?

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $62.76 and last traded at $63.13, with a volume of 1238589 shares traded. The stock had previously closed at $63.93.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price objective on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Blackbaud presently has a consensus rating of "Hold" and a consensus price target of $85.33.

Blackbaud Stock Performance

The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -10.53 and a beta of 1.08. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The stock has a 50-day simple moving average of $71.76 and a 200-day simple moving average of $78.02.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data 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). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The firm had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. On average, analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Remove Ads

Hedge Funds Weigh In On Blackbaud

Institutional investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Blackbaud by 52.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company's stock valued at $4,770,000 after purchasing an additional 19,270 shares during the period. Entropy Technologies LP acquired a new position in shares of Blackbaud in the fourth quarter worth about $377,000. JPMorgan Chase & Co. raised its stake in Blackbaud by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company's stock valued at $19,107,000 after purchasing an additional 7,097 shares during the period. Tributary Capital Management LLC raised its position in Blackbaud by 1.3% during the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company's stock valued at $21,670,000 after buying an additional 3,739 shares during the period. Finally, Simcoe Capital Management LLC purchased a new stake in shares of Blackbaud in the third quarter worth approximately $5,987,000. Institutional investors own 94.21% of the company's stock.

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.