Blackbaud (NASDAQ:BLKB) Updates FY24 Earnings Guidance

Blackbaud (NASDAQ:BLKB) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.12-4.38 for the period, compared to the consensus estimate of $4.24. Blackbaud also updated its FY 2024 guidance to 4.120-4.380 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BLKB shares. StockNews.com upgraded Blackbaud from a hold rating to a buy rating in a research report on Saturday. Robert W. Baird reduced their price objective on Blackbaud from $95.00 to $88.00 and set an outperform rating for the company in a research note on Wednesday, February 14th.

Blackbaud Stock Performance

NASDAQ:BLKB traded down $0.98 during mid-day trading on Tuesday, reaching $77.92. The stock had a trading volume of 344,706 shares, compared to its average volume of 275,987. Blackbaud has a twelve month low of $64.32 and a twelve month high of $88.56. The business has a 50 day simple moving average of $73.20 and a 200 day simple moving average of $76.54. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 2,597.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.78 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The firm had revenue of $295.01 million during the quarter, compared to analysts’ expectations of $299.04 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. Blackbaud’s revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that Blackbaud will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackbaud

In related news, CFO Anthony W. Boor sold 3,100 shares of the company’s 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 sale, the chief financial officer now owns 158,268 shares of the company’s stock, valued at approximately $12,579,140.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Blackbaud news, CFO Anthony W. Boor sold 3,100 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.48, for a total value of $246,388.00. Following the transaction, the chief financial officer now directly owns 158,268 shares in the company, valued at approximately $12,579,140.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael P. Gianoni sold 5,360 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.05, for a total transaction of $396,908.00. Following the sale, the chief executive officer now directly owns 413,114 shares in the company, valued at $30,591,091.70. The disclosure for this sale can be found here. In the last three months, insiders sold 59,897 shares of company stock worth $4,377,015. 1.89% of the stock is owned by corporate insiders.

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.