Stifel Nicolaus Cuts Blackbaud (NASDAQ:BLKB) Price Target to $65.00

Key Points

• Stifel Nicolaus has lowered its price target for Blackbaud (NASDAQ:BLKB) from $75.00 to $65.00, maintaining a "hold" rating on the stock.
• Blackbaud's stock recently traded at $63.05, and despite the price target reduction, it indicates a potential upside of 3.09% from its current level.
• In recent trading activity, key insiders at Blackbaud sold shares, with one director reducing their stake by 23.89% and the executive vice president decreasing theirs by 6.71%.

Blackbaud (NASDAQ:BLKB - Get Free Report) had its target price decreased by investment analysts at Stifel Nicolaus from $75.00 to $65.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the technology company's stock. Stifel Nicolaus' price target would indicate a potential upside of 3.09% from the stock's current price.

Several other analysts also recently issued reports on the company. Weiss Ratings reissued a "sell (d)" rating on shares of Blackbaud in a research note on Wednesday. Wall Street Zen upgraded shares of Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Blackbaud presently has a consensus rating of "Reduce" and an average target price of $70.50.

Blackbaud Stock Performance

Shares of NASDAQ BLKB traded up $0.30 during trading on Wednesday, hitting $63.05. The company had a trading volume of 198,017 shares, compared to its average volume of 304,683. Blackbaud has a 12 month low of $58.05 and a 12 month high of $88.95. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $3.06 billion, a P/E ratio of -10.91, a price-to-earnings-growth ratio of 4.42 and a beta of 1.11. The stock has a 50 day simple moving average of $65.60 and a 200 day simple moving average of $63.85.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.16. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The company had revenue of $281.38 million for the quarter, compared to analysts' expectations of $276.48 million. During the same quarter last year, the business earned $1.08 EPS. The firm's revenue was down 2.1% compared to the same quarter last year. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, analysts anticipate that Blackbaud will post 3.05 earnings per share for the current year.

Insider Buying and Selling at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 2,500 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the sale, the director owned 7,966 shares of the company's stock, valued at $509,664.68. This represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin P. Gregoire sold 8,000 shares of Blackbaud stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total transaction of $581,360.00. Following the completion of the transaction, the executive vice president directly owned 111,156 shares of the company's stock, valued at $8,077,706.52. The trade was a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.97% of the company's stock.

Hedge Funds Weigh In On Blackbaud

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in Blackbaud by 215.9% during the 2nd quarter. CWM LLC now owns 458 shares of the technology company's stock valued at $29,000 after buying an additional 313 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Blackbaud during the second quarter worth $33,000. Parallel Advisors LLC purchased a new stake in shares of Blackbaud in the second quarter valued at $44,000. UMB Bank n.a. lifted its holdings in shares of Blackbaud by 63.2% in the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after acquiring an additional 268 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Blackbaud by 46.6% during the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company's stock worth $50,000 after purchasing an additional 247 shares during the period. Hedge funds and other 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.

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