Blackbaud (BLKB) Set to Announce Quarterly Earnings on Wednesday

Blackbaud (NASDAQ:BLKB - Get Free Report) will be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect Blackbaud to post 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.Investors that wish to listen to the company's conference call can do so using this link.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The company had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts expect Blackbaud to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Blackbaud Stock Down 1.3 %

Shares of BLKB stock traded down $1.13 on Wednesday, hitting $86.06. The company's stock had a trading volume of 131,985 shares, compared to its average volume of 229,158. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 209.90 and a beta of 1.02. Blackbaud has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The firm's fifty day moving average price is $82.70 and its 200-day moving average price is $79.17. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.80.

Blackbaud announced that its Board of Directors has authorized a share repurchase program on Tuesday, July 30th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 18.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James reduced their price objective on shares of Blackbaud from $98.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Robert W. Baird upped their price target on shares of Blackbaud from $88.00 to $92.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Blackbaud from $80.00 to $85.00 and gave the stock a "hold" rating in a research note on Thursday, September 26th. Finally, Evercore ISI upgraded Blackbaud to a "hold" rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Blackbaud presently has a consensus rating of "Moderate Buy" and an average price target of $90.67.

Insider Buying and Selling at Blackbaud

In other news, EVP David J. Benjamin sold 5,590 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $78.04, for a total transaction of $436,243.60. Following the transaction, the executive vice president now owns 51,108 shares in the company, valued at approximately $3,988,468.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP David J. Benjamin sold 5,590 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $78.04, for a total transaction of $436,243.60. Following the sale, the executive vice president now directly owns 51,108 shares in the company, valued at approximately $3,988,468.32. 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 the SEC website. Also, SVP Jon W. Olson sold 4,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the transaction, the senior vice president now owns 29,628 shares of the company's stock, valued at $2,251,728. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,409 shares of company stock valued at $4,483,193 in the last ninety days. Company insiders own 1.95% 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.