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 earnings per share guidance of 4.120-4.380 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NASDAQ:BLKB traded down $0.98 on Tuesday, hitting $77.92. The company’s stock had a trading volume of 344,706 shares, compared to its average volume of 275,987. The company has a 50-day simple moving average of $73.20 and a 200 day simple moving average of $76.54. Blackbaud has a 1 year low of $64.32 and a 1 year high of $88.56. The company has a market capitalization of $4.02 billion, a PE ratio of 2,597.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, beating 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 return on equity of 14.59% and a net margin of 0.16%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. Sell-side analysts forecast that Blackbaud will post 2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 5,360 shares of Blackbaud stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $74.05, for a total transaction of $396,908.00. Following the completion of the transaction, the chief executive officer now owns 413,114 shares in the company, valued at $30,591,091.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Anthony W. Boor sold 6,900 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.01, for a total value of $545,169.00. Following the completion of the transaction, the chief financial officer now owns 151,368 shares in the company, valued at $11,959,585.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 5,360 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $74.05, for a total value of $396,908.00. Following the completion of the transaction, the chief executive officer now owns 413,114 shares of the company’s stock, valued at approximately $30,591,091.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,897 shares of company stock worth $4,377,015. 1.89% of the stock is owned by insiders.

Blackbaud Company Profile

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.