Blackbaud (NASDAQ:BLKB) Reaches New 12-Month Low – What’s Next?

Blackbaud, Inc. (NASDAQ:BLKB)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $59.70 and last traded at $60.83, with a volume of 102997 shares traded. The stock had previously closed at $62.20.

Wall Street Analysts Forecast Growth

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

Blackbaud Trading Up 5.1 %

The stock has a market capitalization of $3.05 billion, a PE ratio of -10.52 and a beta of 1.04. 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 business’s 50-day moving average is $67.51 and its two-hundred day moving average is $76.00.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). The company 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%. On average, analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Institutional Trading of Blackbaud

A number of hedge funds have recently made changes to their positions in the company. Xponance Inc. boosted its stake in shares of Blackbaud by 2.4% in the fourth quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock valued at $417,000 after purchasing an additional 130 shares during the period. Heritage Family Offices LLP lifted its holdings in Blackbaud by 5.9% in the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after buying an additional 166 shares in the last quarter. Huntington National Bank boosted its position in Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after buying an additional 227 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Blackbaud by 3.7% during the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock valued at $563,000 after acquiring an additional 275 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Blackbaud by 127.4% during the first quarter. Versant Capital Management Inc now owns 523 shares of the technology company’s stock worth $32,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

About Blackbaud

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.