Blackbaud (NASDAQ:BLKB) Releases FY 2024 Earnings Guidance

Blackbaud (NASDAQ:BLKB) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.120-4.380 for the period, compared to the consensus estimate of 4.260. 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.

Analyst Ratings Changes

Separately, StockNews.com raised Blackbaud from a hold rating to a buy rating in a research report on Wednesday, May 8th.

Blackbaud Stock Performance

NASDAQ:BLKB traded up $0.35 during midday trading on Tuesday, reaching $80.36. The stock had a trading volume of 277,134 shares, compared to its average volume of 252,015. The stock has a market capitalization of $4.15 billion, a P/E ratio of 195.69 and a beta of 1.01. Blackbaud has a 1-year low of $64.32 and a 1-year high of $88.56. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s fifty day simple moving average is $77.24 and its 200-day simple moving average is $76.44.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. The company had revenue of $279.25 million for the quarter, compared to the consensus estimate of $282.22 million. On average, equities research analysts forecast that Blackbaud will post 2.27 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other news, CFO Anthony W. Boor sold 1,106 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $78.86, for a total value of $87,219.16. Following the sale, the chief financial officer now owns 150,262 shares in the company, valued at $11,849,661.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Anthony W. Boor sold 1,106 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $78.86, for a total transaction of $87,219.16. Following the completion of the transaction, the chief financial officer now owns 150,262 shares of the company’s stock, valued at $11,849,661.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David J. Benjamin sold 1,768 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $77.50, for a total transaction of $137,020.00. Following the completion of the sale, the executive vice president now owns 57,739 shares of the company’s stock, valued at approximately $4,474,772.50. The disclosure for this sale can be found here. Insiders have sold 32,476 shares of company stock valued at $2,547,161 in the last 90 days. 1.95% of the stock is currently owned by 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.