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Blackbaud Inc (BLKB)



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Upturn Advisory Summary
08/28/2025: BLKB (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $76.83
1 Year Target Price $76.83
0 | Strong Buy |
2 | Buy |
3 | Hold |
1 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -32.95% | Avg. Invested days 30 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 3.21B USD | Price to earnings Ratio - | 1Y Target Price 76.83 |
Price to earnings Ratio - | 1Y Target Price 76.83 | ||
Volume (30-day avg) 6 | Beta 1.13 | 52 Weeks Range 58.05 - 88.95 | Updated Date 08/28/2025 |
52 Weeks Range 58.05 - 88.95 | Updated Date 08/28/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -5.49 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -24.49% | Operating Margin (TTM) 21.1% |
Management Effectiveness
Return on Assets (TTM) 5.02% | Return on Equity (TTM) -83.99% |
Valuation
Trailing PE - | Forward PE 14.99 | Enterprise Value 4333438557 | Price to Sales(TTM) 2.81 |
Enterprise Value 4333438557 | Price to Sales(TTM) 2.81 | ||
Enterprise Value to Revenue 3.8 | Enterprise Value to EBITDA 22.9 | Shares Outstanding 48509000 | Shares Floating 36932865 |
Shares Outstanding 48509000 | Shares Floating 36932865 | ||
Percent Insiders 2 | Percent Institutions 98.26 |
Upturn AI SWOT
Blackbaud Inc

Company Overview
History and Background
Blackbaud was founded in 1981. It has evolved from providing accounting software to offering a comprehensive suite of cloud-based software and services for nonprofits, educational institutions, and foundations.
Core Business Areas
- General Markets: Software and services for fundraising, financial management, education administration, and marketing. Caters to nonprofits, K-12 schools, higher education institutions, faith-based organizations, and arts & cultural organizations.
- Enterprise: Provides large-scale solutions with high customisation options. These clients require advanced, integrated solutions for complex operations.
- Small-Mid Sized Organizations: Provides standardized software and services that allow them to grow their operations
Leadership and Structure
The leadership team consists of the CEO, CFO, CTO, and other key executives. The organizational structure is departmentalized, with teams focused on product development, sales, marketing, customer support, and finance.
Top Products and Market Share
Key Offerings
- Raiser's Edge NXT: Cloud-based fundraising and relationship management solution. Competitors include Salesforce, DonorPerfect, and Bloomerang. Blackbaud has a substantial market share in this segment, estimated to be around 20-25% of the overall fundraising software market for large organizations. Revenue derived is estimated to be around 30% of Blackbaud's overall revenue. Competitors include Salesforce, ThankView, Virtuous CRM, Donorbox, Bloomerang
- Financial Edge NXT: Cloud-based accounting solution for nonprofits. Competitors include Sage Intacct and NetSuite. It represents around 20% of Blackbaud's total revenue. Competitors include NetSuite, Sage Intacct, Abila MIP Fund Accounting, Araize FastFund Accounting
- Blackbaud K-12 Solutions: A suite of solutions for K-12 private schools including tuition management, learning management, and enrollment management. Blackbaud has a substantial market share in private K-12 school administration software. Competitors include Finalsite and Ravenna Solutions.
- Blackbaud Church Management: Software and solutions for managing churches and religious facilities. Competitors include Shelby Systems and Fellowship One.
Market Dynamics
Industry Overview
The nonprofit software industry is growing due to increasing demand for digital solutions to manage fundraising, operations, and donor relationships. Cloud-based solutions are becoming increasingly popular.
Positioning
Blackbaud is a leading provider of software and services for nonprofits and educational institutions. Its competitive advantages include its deep understanding of the nonprofit sector, its comprehensive suite of products, and its large customer base.
Total Addressable Market (TAM)
The TAM for nonprofit software is estimated to be over $10 billion. Blackbaud is well-positioned to capture a significant portion of this market, estimated 25%.
Upturn SWOT Analysis
Strengths
- Strong brand recognition in the nonprofit sector
- Comprehensive suite of products and services
- Large customer base
- Cloud-based platform
- Focus on Social Responsibility
Weaknesses
- Higher prices than many competitors
- Complex product offerings may require extensive training
- Customer service issues reported by some users
- Past security breaches have impacted perception
Opportunities
- Expanding into new markets (e.g., international markets)
- Acquiring complementary businesses
- Developing new products and services
- Leveraging AI and machine learning to improve products
- Increase Market Share and Brand Perception
Threats
- Increasing competition from other software vendors
- Economic downturn could reduce nonprofit budgets
- Cybersecurity threats
- Changes in regulations affecting nonprofits
Competitors and Market Share
Key Competitors
- CRM
- ORCL
- ADBE
- MSFT
Competitive Landscape
Blackbaud's advantages include its deep understanding of the nonprofit sector and its comprehensive suite of products. Its disadvantages include higher prices and complex product offerings. Other competitors such as Microsoft and Adobe use their large base and large offering of products as their advantage.
Major Acquisitions
YourCause
- Year: 2019
- Acquisition Price (USD millions): 157.5
- Strategic Rationale: Expanded Blackbaud's corporate social responsibility (CSR) and employee engagement capabilities.
JustGiving
- Year: 2017
- Acquisition Price (USD millions): 134
- Strategic Rationale: Expanded Blackbaud's global reach and online fundraising capabilities.
Growth Trajectory and Initiatives
Historical Growth: Blackbaud has grown through a combination of organic growth and acquisitions. Revenue has increased steadily over the past decade.
Future Projections: Analysts project continued revenue growth of around 5-8% annually. EPS is expected to increase at a faster rate due to improved efficiency and cost management.
Recent Initiatives: Recent strategic initiatives include investing in AI and machine learning, expanding into new markets, and acquiring complementary businesses.
Summary
Blackbaud is a leading provider of software and services to the nonprofit sector, with a strong brand and comprehensive product suite. While its higher prices and complexity can be challenges, it's well-positioned to capitalize on the growing demand for digital solutions in the nonprofit space. They need to pay close attention to security and perception. Future growth will depend on strategic acquisitions, market expansion, and investments in AI.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings (10K, 10Q), Investor Presentations, Analyst Reports, Third-Party Market Research Reports, Blackbaud Website
Disclaimers:
This analysis is based on publicly available information and represents an opinion. It is not financial advice. Market share estimates are approximate and based on available data. Future performance is not guaranteed.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Blackbaud Inc
Exchange NASDAQ | Headquaters Charleston, SC, United States | ||
IPO Launch date 2004-07-22 | President, CEO & Vice Chairman of the Board Mr. Michael P. Gianoni | ||
Sector Technology | Industry Software - Application | Full time employees 2600 | Website https://www.blackbaud.com |
Full time employees 2600 | Website https://www.blackbaud.com |
Blackbaud, Inc. engages in the provision of cloud software and services in the United States and internationally. The company offers fundraising and engagement solutions, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving from Blackbaud, Blackbaud Fundraiser Performance Management, Blackbaud Altru, and Blackbaud Guided Fundraising; financial management solutions, such as Blackbaud Financial Edge NXT, Blackbaud Purchase Cards, Blackbaud Tuition Management, Blackbaud Financial Aid Management, and Blackbaud Billing Management; and grant and award management solutions, which includes Blackbaud Grantmaking and Blackbaud Award Management. It also offers education solutions, including Blackbaud Student Information System, Blackbaud Learning Management System, Blackbaud Enrollment Management System, and Blackbaud School Website System; social responsibility, employee giving, and volunteering solutions, such as YourCause GrantsConnect and YourCause CSRconnect, and Blackbaud Impact Edge; and payment services, which includes Blackbaud Merchant Services. In addition, the company provides data intelligence solutions; professional and managed services; and training solutions. The company sells its solutions and related services through its direct sales force. Blackbaud, Inc. was founded in 1981 and is headquartered in Charleston, South Carolina.

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