Blackbaud (NASDAQ:BLKB) Updates FY 2024 Earnings Guidance

Blackbaud (NASDAQ:BLKB) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.120-4.380 for the period, compared to the consensus EPS estimate of 4.290. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. Blackbaud also updated its FY24 guidance to $4.12-4.38 EPS.

Blackbaud Stock Down 1.2 %

Shares of BLKB stock traded down $0.98 during 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. Blackbaud has a one year low of $64.32 and a one year high of $88.56. The business has a fifty day moving average price of $73.20 and a 200-day moving average price of $76.54. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 2,597.33 and a beta of 1.04. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm had revenue of $295.01 million for 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%. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts anticipate that Blackbaud will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Blackbaud news, COO Kevin P. Gregoire sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $74.00, for a total transaction of $222,000.00. Following the completion of the transaction, the chief operating officer now owns 133,641 shares in the company, valued at approximately $9,889,434. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $79.01, for a total transaction of $545,169.00. Following the completion of the sale, the chief financial officer now owns 151,368 shares of the company’s stock, valued at $11,959,585.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kevin P. Gregoire sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $74.00, for a total value of $222,000.00. Following the completion of the transaction, the chief operating officer now directly owns 133,641 shares in the company, valued at $9,889,434. The disclosure for this sale can be found here. Insiders have sold a total of 59,897 shares of company stock valued at $4,377,015 over the last ninety days. 1.89% of the stock is 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.