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

Blackbaud, Inc. (NASDAQ:BLKB)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $62.76 and last traded at $63.13, with a volume of 1238589 shares changing hands. The stock had previously closed at $63.93.

Wall Street Analyst Weigh In

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

Blackbaud Price Performance

The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -10.70 and a beta of 1.08. The company has a 50 day moving average of $72.02 and a 200 day moving average of $78.19. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). The firm had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackbaud

Institutional investors and hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky boosted its position in shares of Blackbaud by 52.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock worth $4,770,000 after buying an additional 19,270 shares during the period. Entropy Technologies LP purchased a new stake in shares of Blackbaud in the fourth quarter worth about $377,000. JPMorgan Chase & Co. boosted its position in shares of Blackbaud by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock worth $19,107,000 after buying an additional 7,097 shares during the period. Tributary Capital Management LLC boosted its position in shares of Blackbaud by 1.3% in the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock worth $21,670,000 after buying an additional 3,739 shares during the period. Finally, Simcoe Capital Management LLC purchased a new position in Blackbaud in the third quarter valued at about $5,987,000. 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.