Blackbaud (NASDAQ:BLKB) Issues FY 2024 Earnings Guidance

Blackbaud (NASDAQ:BLKB) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.120-4.380 for the period, compared to the consensus earnings per share estimate of 4.290. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. Blackbaud also updated its FY24 guidance to $4.12-4.38 EPS.

Blackbaud Price Performance

Blackbaud stock traded down $0.98 during midday trading on Tuesday, reaching $77.92. 344,706 shares of the stock were exchanged, compared to its average volume of 275,987. Blackbaud has a 52 week low of $64.32 and a 52 week high of $88.56. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $4.02 billion, a PE ratio of 2,597.33 and a beta of 1.04. The company’s fifty day moving average is $73.20 and its 200-day moving average is $76.54.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $295.01 million during the quarter, compared to analyst estimates of $299.04 million. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. On average, sell-side analysts forecast that Blackbaud will post 2.35 EPS for the current year.

Analysts Set New Price Targets

BLKB has been the topic of several recent analyst reports. Robert W. Baird decreased their target price on Blackbaud from $95.00 to $88.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. StockNews.com upgraded shares of Blackbaud from a hold rating to a buy rating in a research report on Saturday.

Insider Buying and Selling

In other Blackbaud news, CFO Anthony W. Boor sold 6,900 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.01, for a total transaction of $545,169.00. Following the completion of the transaction, the chief financial officer now owns 151,368 shares in the company, valued at $11,959,585.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blackbaud news, CFO Anthony W. Boor sold 6,900 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $79.01, for a total transaction of $545,169.00. Following the sale, the chief financial officer now directly owns 151,368 shares in the company, valued at $11,959,585.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anthony W. Boor sold 3,100 shares of Blackbaud stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total value of $246,388.00. Following the completion of the transaction, the chief financial officer now owns 158,268 shares of the company’s stock, valued at approximately $12,579,140.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,897 shares of company stock worth $4,377,015. Corporate insiders own 1.89% 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.