Blackbaud (NASDAQ:BLKB) Hits New 52-Week Low – Here’s What Happened

Blackbaud, Inc. (NASDAQ:BLKB) shares hit a new 52-week low on Thursday . The stock traded as low as $26.52 and last traded at $26.77, with a volume of 741609 shares. The stock had previously closed at $28.01.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Blackbaud from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, April 28th. Robert W. Baird raised shares of Blackbaud from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $60.00 to $50.00 in a report on Thursday, April 30th. Zacks Research downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings downgraded shares of Blackbaud from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.50.

Blackbaud Stock Down 4.4%

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 33.66. The firm has a market cap of $1.23 billion, a PE ratio of 9.07, a P/E/G ratio of 1.00 and a beta of 1.02. The firm’s 50 day moving average is $33.13 and its 200-day moving average is $45.91.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. The business had revenue of $281.14 million for the quarter, compared to the consensus estimate of $279.81 million. Blackbaud had a net margin of 12.41% and a return on equity of 176.76%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, equities research analysts expect that Blackbaud, Inc. will post 3.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Chad Anderson sold 6,205 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $31.31, for a total transaction of $194,278.55. Following the transaction, the chief financial officer owned 62,869 shares of the company’s stock, valued at approximately $1,968,428.39. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.97% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

Several institutional investors and hedge funds have recently modified their holdings of BLKB. Altshuler Shaham Ltd purchased a new position in shares of Blackbaud during the first quarter valued at approximately $29,000. Parallel Advisors LLC increased its position in Blackbaud by 528.0% during the first quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock worth $30,000 after purchasing an additional 660 shares during the last quarter. Blue Trust Inc. increased its position in Blackbaud by 44.3% during the first quarter. Blue Trust Inc. now owns 867 shares of the technology company’s stock worth $33,000 after purchasing an additional 266 shares during the last quarter. Rothschild Investment LLC increased its position in Blackbaud by 589.0% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock worth $36,000 after purchasing an additional 483 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its position in Blackbaud by 4,300.0% during the fourth quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock worth $39,000 after purchasing an additional 602 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.