Jefferies Maintains a 'Hold' on Blackbaud (BLKB); Loud Qtr/Guidance...Underlying Trends Look Decent

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February 23, 2012 11:35 AM EST
Get Alerts BLKB Hot Sheet
Price: $46.45 +0.63%

Rating Summary:
    5 Buy, 11 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 15 | New: 40
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Jefferies maintains a 'Hold' on Blackbaud (NASDAQ: BLKB) price target raised $1 to $28.

Analyst, Ross MacMillan, said, "Underlying trends at BLKB appear decent, but 4Q11 contained one-time revenue and cost adjustments plus prior-period restatements. There are cost (and minimal rev) impacts in CY12, which depress op margin, but 10%+ organic growth, transition to subscription and LT OM expanson remain intact."

Jefferies lowers FY12 EPS estimate from $1.19 to $1.15 and raises FY13 from $1.35 to $1.42.

For an analyst ratings summary and ratings history on Blackbaud click here. For more ratings news on Blackbaud click here.

Shares of Blackbaud closed at $32.00 yesterday.

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