In a report released on November 4, J. Parker Lane from Stifel Nicolaus maintained a Hold rating on Blackbaud (BLKB – Research Report), with a price target of $55.00. The company’s shares closed yesterday at $58.79.
According to TipRanks, Parker Lane is an analyst with an average return of -31.4% and a 9.40% success rate. Parker Lane covers the Technology sector, focusing on stocks such as Twilio, Blackbaud, and Guidewire.
The word on The Street in general, suggests a Hold analyst consensus rating for Blackbaud with a $59.00 average price target, a 0.36% upside from current levels. In a report released on November 3, Robert W. Baird also maintained a Hold rating on the stock with a $70.00 price target.
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Based on Blackbaud’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $261.3 million and a GAAP net loss of $10.32 million. In comparison, last year the company earned a revenue of $231.22 million and had a net profit of $6.19 million
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BLKB in relation to earlier this year.
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Blackbaud, Inc. engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, grantmaking, financial management, payment processing, and analytics. The company was founded by Anthony E. Bakker in 1981 and is headquartered in Charleston, SC.
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