Blackbaud (NASDAQ:BLKB) Issues 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.

Analyst Upgrades and Downgrades

BLKB has been the subject of a number of recent research reports. StockNews.com raised shares of Blackbaud from a hold rating to a buy rating in a research report on Saturday. Robert W. Baird decreased their price objective on Blackbaud from $95.00 to $88.00 and set an outperform rating for the company in a report on Wednesday, February 14th.

Blackbaud Price Performance

BLKB stock traded down $0.98 during mid-day trading on Tuesday, reaching $77.92. The company’s stock had a trading volume of 344,706 shares, compared to its average volume of 275,987. The stock has a market cap of $4.02 billion, a PE ratio of 2,597.33 and a beta of 1.04. The company’s 50 day moving average is $73.20 and its two-hundred day moving average is $76.54. Blackbaud has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.94.

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

Insider Activity

In other news, COO Kevin P. Gregoire sold 3,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $74.00, for a total transaction of $222,000.00. Following the sale, the chief operating officer now owns 133,641 shares of the company’s stock, valued at $9,889,434. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Kevin P. Gregoire sold 3,000 shares of Blackbaud stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.00, for a total transaction of $222,000.00. Following the sale, the chief operating officer now owns 133,641 shares in the company, valued at $9,889,434. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 25,354 shares of Blackbaud stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the completion of the transaction, the chief executive officer now owns 357,104 shares in the company, valued at $24,558,042.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,897 shares of company stock valued at $4,377,015. 1.89% of the stock is currently owned by company insiders.

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.