Blackbaud exceeds Q1 earnings estimates, reiterates guidance, but sees downward trend in stock estimates.

From Nasdaq: 2024-05-30 11:31:04

Blackbaud Q1 earnings exceeded estimates with a 29.2% increase in EPS and 6.7% growth in total revenues. Non-GAAP organic revenues were up 6.9%. Operating margin increased by 430 bps to 25.9%. Despite positive results, cash and restricted cash decreased, and total debt increased.
Blackbaud reiterates full-year financial guidance with updates on revenue, adjusted EBITDA, EPS, and free cash flow. Estimates for the stock have trended downward. The company is in the Zacks Computer – Software industry and is expected to see in-line returns. Microsoft, in the same industry, reported strong results.
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