Blackbaud Inc. (BLKB)’s First Quarter Results and Guidance Assert Strong Growth Momentum
Blackbaud Inc. (NASDAQ: BLKB) delivered solid first-quarter results with revenue up 4.2% year over year to $281.1 million, driven by a 5% organic recurring revenue increase and improved adjusted operating margins. Evercore ISI reiterated an In Line rating but lowered the price target to $45. Management expects continued growth throughout the year, projecting full-year revenue between $1.173 billion and $1.179 billion and non-GAAP diluted EPS between $5.15 and $5.25.