Brokerages Set Blackbaud, Inc. (NASDAQ:BLKB) Target Price at $85.33

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have received an average rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $85.33.

Separately, Robert W. Baird lowered their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $63.13 on Friday. The firm’s fifty day moving average price is $72.02 and its 200 day moving average price is $78.19. Blackbaud has a 1-year low of $62.76 and a 1-year high of $88.95. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -10.70 and a beta of 1.08.

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

Institutional Investors Weigh In On Blackbaud

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Blackbaud by 20.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,573 shares of the technology company’s stock valued at $7,213,000 after acquiring an additional 16,890 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Blackbaud by 350.9% during the 4th quarter. Voloridge Investment Management LLC now owns 95,632 shares of the technology company’s stock worth $7,069,000 after buying an additional 74,422 shares during the last quarter. Waverly Advisors LLC raised its stake in shares of Blackbaud by 22.7% during the 4th quarter. Waverly Advisors LLC now owns 20,503 shares of the technology company’s stock worth $1,516,000 after buying an additional 3,790 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Blackbaud by 20.3% during the 4th quarter. Two Sigma Investments LP now owns 3,076 shares of the technology company’s stock worth $227,000 after buying an additional 518 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Blackbaud during the 4th quarter worth $216,000. Institutional investors and hedge funds 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.