Blackbaud (NASDAQ:BLKB) Price Target Lowered to $45.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus cut its price target on Blackbaud from $50 to $45 and kept a "hold" rating, with the new target implying roughly a 21% upside from the current share price.
• Analyst sentiment is mixed-to-negative: MarketBeat shows a consensus "Reduce" rating and a $55 average target, while firms including Weiss and Zacks have recently downgraded the stock.
• Blackbaud posted an EPS beat ($1.19 vs. $1.15) but revenue was down 2.3% year-over-year; insiders have been net sellers recently while institutional ownership remains very high (~94%).

Blackbaud (NASDAQ:BLKB - Get Free Report) had its price target decreased by research analysts at Stifel Nicolaus from $50.00 to $45.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the technology company's stock. Stifel Nicolaus' price target points to a potential upside of 21.00% from the stock's current price.

A number of other equities analysts also recently issued reports on BLKB. Weiss Ratings downgraded Blackbaud from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, April 21st. Raymond James Financial set a $60.00 price target on Blackbaud in a research report on Tuesday, February 10th. Robert W. Baird set a $60.00 price target on Blackbaud in a research report on Wednesday, February 11th. Evercore set a $55.00 price objective on shares of Blackbaud in a report on Wednesday, February 11th. Finally, Zacks Research lowered shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Blackbaud currently has an average rating of "Reduce" and a consensus target price of $55.00.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB opened at $37.19 on Tuesday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18. Blackbaud has a 52 week low of $33.95 and a 52 week high of $74.88. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 12.78. The firm has a 50 day moving average of $42.36 and a 200 day moving average of $53.27.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $295.26 million during the quarter, compared to the consensus estimate of $292.71 million. Blackbaud had a net margin of 10.19% and a return on equity of 175.57%. Blackbaud's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, sell-side analysts predict that Blackbaud will post 3.68 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David J. Benjamin sold 14,349 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $47.47, for a total transaction of $681,147.03. Following the sale, the executive vice president directly owned 73,124 shares of the company's stock, valued at $3,471,196.28. The trade was a 16.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin P. Gregoire sold 2,000 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $50.02, for a total transaction of $100,040.00. Following the completion of the sale, the executive vice president directly owned 135,194 shares in the company, valued at approximately $6,762,403.88. The trade was a 1.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 39,801 shares of company stock valued at $1,893,874 over the last ninety days. 1.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackbaud

Several hedge funds have recently added to or reduced their stakes in BLKB. Northwestern Mutual Wealth Management Co. boosted its holdings in Blackbaud by 143,409.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company's stock valued at $139,759,000 after purchasing an additional 2,205,641 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Blackbaud by 14.7% in the third quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company's stock valued at $354,762,000 after purchasing an additional 706,695 shares during the last quarter. SG Capital Management LLC boosted its stake in shares of Blackbaud by 777.3% during the 3rd quarter. SG Capital Management LLC now owns 598,547 shares of the technology company's stock worth $38,493,000 after acquiring an additional 530,320 shares in the last quarter. Norges Bank purchased a new stake in shares of Blackbaud during the 4th quarter worth about $29,846,000. Finally, AQR Capital Management LLC boosted its stake in shares of Blackbaud by 157.3% during the 4th quarter. AQR Capital Management LLC now owns 767,792 shares of the technology company's stock worth $48,617,000 after acquiring an additional 469,391 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

About Blackbaud

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company's main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser's Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.

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