Blackbaud (NASDAQ:BLKB) Share Price Breaks Above 200 Day Moving Average - Here's Why

Key Points

• Blackbaud shares broke above their 200-day moving average, reaching $43.59 and last trading at $43.31 versus the $37.29 long-term average.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $49.50 price target, although Robert W. Baird raised its target to $58 and Raymond James maintained an “outperform” rating.
• The company beat quarterly EPS expectations ($1.33 versus $1.23) while revenue rose 3.3% year over year to $290.6 million; however, insiders sold 43,086 shares worth about $2.0 million in the last quarter.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $37.29 and traded as high as $43.59. Blackbaud shares last traded at $43.31, with a volume of 582,103 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Blackbaud from $54.00 to $58.00 and gave the company an "outperform" rating in a research report on Tuesday, September 15th. Stifel Nicolaus reduced their price target on Blackbaud from $45.00 to $30.00 and set a "hold" rating for the company in a research report on Friday, July 10th. Weiss Ratings raised shares of Blackbaud from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, September 24th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $55.00 price objective on shares of Blackbaud in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Blackbaud has an average rating of "Hold" and a consensus price target of $49.50.

Blackbaud Price Performance

The company has a debt-to-equity ratio of 16.82, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average price of $44.77 and a two-hundred day moving average price of $37.29. The company has a market cap of $1.97 billion, a P/E ratio of 13.53, a PEG ratio of 1.43 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.10. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The business had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. Blackbaud's revenue was up 3.3% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kevin Gregoire sold 22,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the sale, the executive vice president owned 113,194 shares in the company, valued at $5,150,327. This represents a 16.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Chad Anderson sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $47.56, for a total value of $95,120.00. Following the completion of the sale, the chief financial officer directly owned 59,883 shares of the company's stock, valued at approximately $2,848,035.48. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 43,086 shares of company stock worth $2,001,761. 2.01% of the stock is currently owned by company insiders.

Institutional Trading of Blackbaud

A number of large investors have recently added to or reduced their stakes in BLKB. Performa Ltd US LLC increased its stake in shares of Blackbaud by 337.5% during the 2nd quarter. Performa Ltd US LLC now owns 875 shares of the technology company's stock worth $26,000 after purchasing an additional 675 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Blackbaud by 107.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 959 shares of the technology company's stock valued at $28,000 after purchasing an additional 496 shares during the period. Altshuler Shaham Ltd acquired a new stake in Blackbaud in the 1st quarter valued at about $29,000. Parallel Advisors LLC lifted its stake in Blackbaud by 528.0% in the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company's stock valued at $30,000 after purchasing an additional 660 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Blackbaud by 44.3% during the first quarter. Blue Trust Inc. now owns 867 shares of the technology company's stock worth $33,000 after purchasing an additional 266 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

About Blackbaud

Blackbaud, Inc is a software company that provides cloud-based technology for nonprofit organizations and other social-impact institutions. Its solutions help organizations manage fundraising, donor relationships, financial operations, marketing, volunteer programs, grants, and constituent engagement.

The company's product portfolio includes customer relationship management and fundraising platforms, online giving and peer-to-peer fundraising tools, financial management software, grantmaking solutions, and systems for managing events, memberships, and communications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.