Blackbaud (BLKB) to Release Quarterly Earnings on Wednesday

Blackbaud (NASDAQ:BLKB) will be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $287.29 million for the quarter, compared to analysts’ expectations of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $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

NASDAQ:BLKB opened at $87.19 on Wednesday. Blackbaud has a 1-year low of $64.32 and a 1-year high of $88.56. The firm has a 50 day simple moving average of $82.47 and a 200-day simple moving average of $79.05. The firm has a market cap of $4.50 billion, a PE ratio of 212.66 and a beta of 1.02. 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 declared that its Board of Directors 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 buy up to 18.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Blackbaud

In related news, SVP Jon W. Olson sold 4,000 shares of Blackbaud 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 sale, the senior vice president now owns 29,628 shares in the company, valued at approximately $2,251,728. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Jon W. Olson sold 3,603 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $77.90, for a total transaction of $280,673.70. Following the sale, the senior vice president now directly owns 26,025 shares of the company’s stock, valued at approximately $2,027,347.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jon W. Olson sold 4,000 shares of the firm’s 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 transaction, the senior vice president now owns 29,628 shares in the company, valued at $2,251,728. This trade represents 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. Insiders own 1.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Blackbaud Company Profile

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.