Blackbaud (BLKB) Set to Release Quarterly Earnings on Wednesday

Blackbaud (NASDAQ:BLKB) is scheduled to release 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 interested in listening to the company’s conference call can do so using this link.

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

Blackbaud Stock Performance

BLKB opened at $85.54 on Monday. The firm’s fifty day simple moving average is $83.21 and its two-hundred day simple moving average is $79.43. Blackbaud has a 52-week low of $64.32 and a 52-week high of $88.56. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 208.63 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Blackbaud declared that its board has authorized a share repurchase program on Tuesday, July 30th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 18.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, SVP Jon W. Olson sold 4,000 shares of Blackbaud stock in a transaction on Monday, August 5th. The stock was 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 directly owns 29,628 shares in the company, valued at approximately $2,251,728. This trade represents 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 this hyperlink. In other news, 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 in the company, valued at approximately $2,251,728. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sarah E. Nash sold 3,220 shares of Blackbaud stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $76.18, for a total value of $245,299.60. Following the sale, the director now owns 26,823 shares in the company, valued at $2,043,376.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,409 shares of company stock valued at $4,483,193. 1.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.