Blackbaud (NASDAQ:BLKB) Shares Gap Down – Here’s What Happened

Blackbaud, Inc. (NASDAQ:BLKB) gapped down before the market opened on Tuesday . The stock had previously closed at $32.68, but opened at $31.47. Blackbaud shares last traded at $31.27, with a volume of 91,813 shares changing hands.

Analysts Set New Price Targets

BLKB has been the topic of a number of research reports. Stifel Nicolaus lowered their target price on Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. 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 research 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 raised shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.75.

Blackbaud Price Performance

The stock has a market capitalization of $1.43 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.15 and a beta of 1.01. The business has a fifty day simple moving average of $29.54 and a 200 day simple moving average of $40.59. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $281.14 million for the quarter, compared to analyst estimates of $279.81 million. Blackbaud had a return on equity of 176.76% and a net margin of 12.41%.The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, analysts expect that Blackbaud, Inc. will post 3.57 earnings per share for the current year.

Insiders Place Their Bets

In other Blackbaud news, CFO Chad Anderson sold 6,205 shares of Blackbaud stock in a transaction 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 directly owned 62,869 shares of the company’s stock, valued at $1,968,428.39. The trade was a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.01% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in Blackbaud during the first quarter worth about $29,000. Parallel Advisors LLC increased its stake in Blackbaud by 528.0% in the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock valued at $30,000 after buying an additional 660 shares during the last quarter. Blue Trust Inc. increased its stake in Blackbaud by 44.3% in the 1st quarter. Blue Trust Inc. now owns 867 shares of the technology company’s stock valued at $33,000 after buying an additional 266 shares during the last quarter. Rothschild Investment LLC increased its stake in Blackbaud by 589.0% in the 4th quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock valued at $36,000 after buying an additional 483 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Blackbaud by 243.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,286 shares of the technology company’s stock worth $38,000 after buying an additional 912 shares in the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Company Profile

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.