Blackbaud (NASDAQ:BLKB) Updates FY19 Earnings Guidance

Blackbaud (NASDAQ:BLKB) updated its FY19 earnings guidance on Monday. The company provided earnings per share guidance of $2.11-2.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.22. The company issued revenue guidance of $880-910 million, compared to the consensus revenue estimate of $895.71 million.

Several analysts have recently weighed in on the stock. Bank of America restated an underperform rating and set a $80.00 price objective (up previously from $70.00) on shares of Blackbaud in a research report on Thursday, August 1st. Stephens set a $92.00 price objective on shares of Blackbaud and gave the stock a hold rating in a research report on Friday, October 18th. BidaskClub downgraded shares of Blackbaud from a hold rating to a sell rating in a research report on Wednesday, October 23rd. ValuEngine downgraded shares of Blackbaud from a buy rating to a hold rating in a research report on Thursday, October 10th. Finally, DA Davidson boosted their price objective on shares of Blackbaud to $89.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has an average rating of Hold and a consensus price target of $90.50.

Shares of NASDAQ:BLKB traded up $0.76 during trading on Monday, hitting $86.38. 317,600 shares of the company were exchanged, compared to its average volume of 264,322. The stock has a market capitalization of $4.19 billion, a P/E ratio of 46.19, a PEG ratio of 8.38 and a beta of 1.21. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.76 and a quick ratio of 0.76. Blackbaud has a 12-month low of $58.23 and a 12-month high of $97.35. The firm’s 50 day moving average price is $89.83 and its 200-day moving average price is $84.95.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.29 by $0.37. Blackbaud had a net margin of 3.04% and a return on equity of 20.51%. The firm had revenue of $226.40 million during the quarter, compared to the consensus estimate of $223.53 million. During the same quarter in the prior year, the firm earned $0.69 EPS. Blackbaud’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that Blackbaud will post 1.27 EPS for the current year.

In related news, Director Joyce Nelson sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $88.62, for a total value of $88,620.00. Following the completion of the sale, the director now owns 12,051 shares in the company, valued at approximately $1,067,959.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George H. Ellis sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $88.20, for a total transaction of $176,400.00. Following the completion of the sale, the director now owns 4,404 shares of the company’s stock, valued at approximately $388,432.80. The disclosure for this sale can be found here. 1.56% of the stock is owned by corporate insiders.

About Blackbaud

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

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Earnings History and Estimates for Blackbaud (NASDAQ:BLKB)

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