Blackbaud (NASDAQ:BLKB) Reaches New 1-Year Low – Time to Sell?

Blackbaud, Inc. (NASDAQ:BLKB)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $64.65 and last traded at $65.04, with a volume of 27638 shares trading hands. The stock had previously closed at $65.31.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $85.33.

Blackbaud Trading Down 1.3 %

The firm has a 50 day simple moving average of $74.91 and a 200 day simple moving average of $79.79. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The firm has a market capitalization of $3.17 billion, a PE ratio of -10.93 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). The business had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Equities analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Institutional Trading of Blackbaud

Several hedge funds have recently bought and sold shares of BLKB. Vestcor Inc purchased a new position in Blackbaud during the fourth quarter valued at approximately $75,000. TD Private Client Wealth LLC lifted its holdings in Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares in the last quarter. KBC Group NV increased its holdings in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after acquiring an additional 424 shares during the last quarter. Huntington National Bank increased its position in shares of Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after purchasing an additional 227 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Blackbaud in the third quarter valued at $142,000. Institutional investors own 94.21% of the company’s stock.

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.