Blackbaud (NASDAQ:BLKB) Shares Gap Down - Here's What Happened

Key Points

• Blackbaud shares gapped down at the open, falling from a prior close of $28.63 to an open of $27.51 as traders reacted to the latest news flow.
• Analyst sentiment remains mixed but cautious: several firms trimmed price targets or downgraded the stock, and MarketBeat shows an overall Hold consensus with an average target price of $52.50.
• The company recently posted better-than-expected quarterly results, beating EPS and revenue estimates, while also issuing FY 2026 guidance of $5.15 to $5.25 EPS.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $28.63, but opened at $27.51. Blackbaud shares last traded at $27.6450, with a volume of 44,839 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus dropped their price target on Blackbaud from $50.00 to $45.00 and set a "hold" rating on the stock in a research report on Tuesday, April 28th. Robert W. Baird upgraded Blackbaud from a "neutral" rating to an "outperform" rating and lowered their target price for the company from $60.00 to $50.00 in a research note on Thursday, April 30th. Zacks Research lowered Blackbaud from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, Weiss Ratings lowered Blackbaud from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $52.50.

Blackbaud Price Performance

The stock has a fifty day simple moving average of $30.46 and a two-hundred day simple moving average of $42.42. The company has a market cap of $1.30 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.06. Blackbaud had a return on equity of 176.76% and a net margin of 12.41%.The business had revenue of $281.14 million during the quarter, compared to the consensus estimate of $279.81 million. During the same period in the prior year, the business posted $0.96 EPS. The company's revenue for the quarter was up 4.2% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, equities analysts predict that Blackbaud, Inc. will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Blackbaud news, CFO Chad Anderson sold 6,205 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $31.31, for a total transaction of $194,278.55. Following the sale, the chief financial officer directly owned 62,869 shares in the company, valued at approximately $1,968,428.39. The trade was a 8.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.97% of the company's stock.

Institutional Trading of Blackbaud

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Blackbaud by 1.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company's stock worth $1,454,000 after buying an additional 361 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Blackbaud by 293.1% during the 1st quarter. Jones Financial Companies Lllp now owns 7,701 shares of the technology company's stock worth $478,000 after acquiring an additional 5,742 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Blackbaud by 26.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 229,244 shares of the technology company's stock worth $14,225,000 after acquiring an additional 47,549 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Blackbaud by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,751 shares of the technology company's stock worth $6,314,000 after acquiring an additional 4,178 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Blackbaud by 886.2% in the 1st quarter. Jane Street Group LLC now owns 159,729 shares of the technology company's stock worth $9,911,000 after acquiring an additional 143,533 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.

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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