Blackbaud (NASDAQ:BLKB) Updates FY19 Earnings Guidance

Blackbaud (NASDAQ:BLKB) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.11-2.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.19. The company issued revenue guidance of $880-910 million, compared to the consensus revenue estimate of $893.73 million.Blackbaud also updated its FY 2019 guidance to $2.11-2.28 EPS.

Blackbaud stock traded up $1.30 during trading hours on Tuesday, hitting $88.05. 230,386 shares of the stock traded hands, compared to its average volume of 276,879. The business’s 50-day moving average price is $82.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $4.33 billion, a P/E ratio of 47.09, a PEG ratio of 8.13 and a beta of 1.20. Blackbaud has a one year low of $58.23 and a one year high of $110.39.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The business had revenue of $215.83 million for the quarter, compared to analysts’ expectations of $212.32 million. Blackbaud had a return on equity of 21.47% and a net margin of 3.02%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. On average, equities research analysts predict that Blackbaud will post 1.28 earnings per share for the current year.

BLKB has been the topic of several research reports. Stephens cut Blackbaud from an overweight rating to an equal weight rating and set a $86.00 price objective on the stock. in a research report on Wednesday, April 3rd. BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, June 20th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research raised Garrett Motion from a sell rating to a hold rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $88.14.

In other news, Director Timothy C. K. Chou sold 400 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $76.98, for a total value of $30,792.00. Following the sale, the director now directly owns 20,114 shares of the company’s stock, valued at approximately $1,548,375.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kevin W. Mooney sold 8,858 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $80.00, for a total value of $708,640.00. Following the completion of the sale, the executive vice president now directly owns 92,901 shares in the company, valued at $7,432,080. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud, and Blackbaud School Website System.

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Earnings History and Estimates for Blackbaud (NASDAQ:BLKB)

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