Blackbaud, Inc. (NASDAQ:BLKB) Expected to Announce Quarterly Sales of $215.12 Million


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Wall Street brokerages expect Blackbaud, Inc. (NASDAQ:BLKB) to announce $215.12 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Blackbaud’s earnings. The lowest sales estimate is $207.81 million and the highest is $220.05 million. Blackbaud posted sales of $223.62 million in the same quarter last year, which suggests a negative year over year growth rate of 3.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, May 4th.

According to Zacks, analysts expect that Blackbaud will report full-year sales of $889.04 million for the current fiscal year, with estimates ranging from $858.33 million to $908.80 million. For the next year, analysts forecast that the firm will report sales of $905.23 million, with estimates ranging from $890.06 million to $915.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Blackbaud.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Sunday, February 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.14. Blackbaud had a return on equity of 17.03% and a net margin of 2.49%. The business had revenue of $242.61 million during the quarter, compared to analysts’ expectations of $228.41 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year.

BLKB has been the subject of several recent research reports. Benchmark raised Blackbaud from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Wednesday, February 10th. DA Davidson increased their price target on Blackbaud from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 10th. Finally, Zacks Investment Research cut Blackbaud from a “hold” rating to a “sell” rating and set a $84.00 price target for the company. in a research note on Thursday, February 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $81.75.

In other Blackbaud news, insider Kevin Mcdearis sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $71.34, for a total value of $570,720.00. Following the transaction, the insider now owns 94,154 shares in the company, valued at $6,716,946.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.33% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Blackbaud by 43.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 474 shares of the technology company’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Blackbaud in the third quarter valued at approximately $28,000. Point72 Hong Kong Ltd bought a new position in shares of Blackbaud in the third quarter valued at approximately $42,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Blackbaud in the third quarter valued at approximately $128,000. Finally, Canton Hathaway LLC bought a new position in shares of Blackbaud in the third quarter valued at approximately $134,000. Institutional investors own 95.89% of the company’s stock.

BLKB traded down $0.90 on Thursday, reaching $71.30. The stock had a trading volume of 8,980 shares, compared to its average volume of 383,245. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 153.62, a price-to-earnings-growth ratio of 7.76 and a beta of 1.20. The firm has a 50-day moving average of $67.60 and a 200-day moving average of $60.17. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.13. Blackbaud has a fifty-two week low of $38.22 and a fifty-two week high of $80.00.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, and individual change agents in the United States and internationally. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud Attentive.ly, and Blackbaud School Website System.

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