Blackbaud, Inc.

NasdaqGS:BLKB Stock Report

Market Cap: US$1.4b

Blackbaud Future Growth

Future criteria checks 2/6

Blackbaud is forecast to grow earnings and revenue by 10.7% and 3.9% per annum respectively. EPS is expected to grow by 11.7% per annum. Return on equity is forecast to be 31.2% in 3 years.

Key information

10.7%

Earnings growth rate

11.71%

EPS growth rate

Software earnings growth19.6%
Revenue growth rate3.9%
Future return on equity31.24%
Analyst coverage

Low

Last updated07 May 2026

Recent future growth updates

Analysis Article • Feb 13

Blackbaud, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Last week saw the newest yearly earnings release from Blackbaud, Inc. ( NASDAQ:BLKB ), an important milestone in the...

Recent updates

Narrative Update • May 10

BLKB: AI Execution And Buybacks Will Support Future Upside Potential

Analysts have trimmed the Blackbaud fair value estimate from $59.80 to $51.00, reflecting recent reductions in published price targets, as well as updated assumptions for discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Bullish Takeaways Bullish analysts have upgraded their stance, suggesting they see execution trends or product positioning that, in their view, support the current valuation despite recent target cuts from other firms.
Seeking Alpha • Apr 29

Blackbaud: 2026 Renewals Will Be The Major Test (Upgrade)

Summary Blackbaud delivered better-than-expected Q1 results, stabilizing organic revenue growth after several quarters of deceleration. BLKB's valuation has compressed to a single-digit P/E and ~10x FCF, creating a more balanced risk/reward profile and prompting a rating upgrade to "Neutral." Revenue growth opportunities exist through a larger 2026 renewal cohort and potential price increases, assuming steady or improving renewal rates. Risks include elevated churn in FY26 amid a tougher macro backdrop and a substantial net debt load exceeding $1 billion, limiting financial flexibility. Read the full article on Seeking Alpha
Narrative Update • Apr 26

BLKB: AI Execution And Buybacks Will Support Future Repricing Potential

Analysts have adjusted their price target on Blackbaud to $59.80. The change reflects modest tweaks to assumptions on discount rate, revenue growth, profit margins, and future P/E, while incorporating recent target cuts from several research firms.
Narrative Update • Apr 11

BLKB: AI Rollout And Buybacks Will Support Future Repricing

Analysts have reduced their Blackbaud price targets by roughly $20 to $25, reflecting updated views on risk and profitability. The fair value estimate remains at $59.80, with only slight adjustments to growth, margin, and future P/E assumptions.
Narrative Update • Mar 28

BLKB: Higher Discount Rate And AI Launch Will Support Future Repricing

Narrative Update on Blackbaud Analysts have trimmed their average price target on Blackbaud by roughly $20 to $25, reflecting updated views on the stock that are now captured in a slightly higher discount rate and modestly adjusted P/E assumptions while fair value remains at $59.80. Analyst Commentary Recent research updates have focused on resetting expectations around Blackbaud, with price targets reduced by roughly $20 to $25 and fair value now referenced at about $59.80.
Narrative Update • Mar 13

BLKB: Higher Discount Rate Will Support Future Earnings Repricing Opportunity

Analysts have reduced their average 12‑month price target for Blackbaud by $25, reflecting updated assumptions for discount rates, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research updates all point to lower 12‑month price targets for Blackbaud, with cuts in the range of $20 to $25 as analysts refresh their models for discount rates, revenue growth, profit margins, and future P/E multiples.
New Narrative • Mar 01

AI Data Moat And Longer Contracts Will Support Durable Earnings Power

Catalysts About Blackbaud Blackbaud provides cloud software, data and payments solutions that serve as a system of record for nonprofits and social impact organizations. What are the underlying business or industry changes driving this perspective?
Narrative Update • Feb 27

BLKB: Higher Discount Rate Will Set Up Future Earnings Repricing Potential

Analysts have reduced their price targets on Blackbaud by $20 to $25. Our updated view reflects a slightly higher discount rate and a modestly lower future P/E assumption to remain aligned with this more cautious stance.
New Narrative • Feb 13

AI Adoption And Contract Renewals Will Shape Long Term Stability For This Software Provider

Catalysts About Blackbaud Blackbaud provides software and payments solutions that serve as a system of record for social impact and nonprofit organizations. What are the underlying business or industry changes driving this perspective?
Analysis Article • Feb 13

Blackbaud, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Last week saw the newest yearly earnings release from Blackbaud, Inc. ( NASDAQ:BLKB ), an important milestone in the...
Narrative Update • Feb 13

BLKB: Expanded Buybacks And AI Initiatives Will Support Future Earnings Power

Analysts have reduced their price expectations for Blackbaud, with the updated fair value estimate moving from $74.50 to $59.80 as they recalibrate discount rates, revenue growth, profit margin assumptions, and future P/E levels in line with recent target cuts from several research firms. Analyst Commentary Recent research updates cluster around a common theme, with multiple firms trimming their price targets and prompting a closer look at what is driving both optimism and caution on Blackbaud.
Analysis Article • Jan 12

Blackbaud (NASDAQ:BLKB) Knows How To Allocate Capital Effectively

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...
Narrative Update • Jan 09

BLKB: AI Features And Expanded Buybacks Will Support Stronger Earnings Power

Analysts have kept their price target for Blackbaud broadly unchanged at about US$74.50. This reflects only marginal tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E that do not materially alter their view of the stock's valuation.
Narrative Update • Dec 16

BLKB: AI And Buybacks Will Drive Stronger Earnings Power Ahead

Analysts have nudged their price target on Blackbaud slightly higher to reflect modestly improved margin expectations and a marginally lower discount rate, while keeping overall fair value essentially unchanged at approximately $74.50 per share. What's in the News Blackbaud expanded its AI strategy with the launch of its agentic AI suite, Agents for Good.
Narrative Update • Dec 01

BLKB: Next-Generation AI Tools Will Strengthen Earnings Outlook And Market Position

Analysts have maintained Blackbaud's price target at $74.50, citing only minor adjustments to underlying model assumptions that do not materially impact their overall valuation outlook. What's in the News Blackbaud launched its bi-annual Product Update Briefings, highlighting innovations in fundraising, financial management, grantmaking, corporate social responsibility, and education management solutions.
Narrative Update • Nov 17

BLKB: Advancing AI Integration Will Drive Sector Leadership And Shareholder Returns

Narrative Update on Blackbaud: Analyst Price Target Adjustment Analysts have slightly reduced their fair value estimate for Blackbaud from $75.17 to $74.50, noting that modest improvements in profit margins and revenue growth have been offset by a lowered future price-to-earnings projection. What's in the News Blackbaud reiterated its earnings guidance for the full year 2025, projecting GAAP revenue between $1.120 billion and $1.130 billion (Key Developments).
Narrative Update • Oct 22

Analysts Maintain Blackbaud Price Target as AI Initiatives Drive Steady Valuation and Outlook

Analysts have maintained their price target for Blackbaud at $75.17 per share. This reflects steady expectations and minimal changes in key financial estimates.
Narrative Update • Oct 08

AI And Cloud Will Revolutionize Nonprofit Education And Healthcare

Analysts have slightly lowered their price target for Blackbaud from $76.83 to $75.17. This reflects a modest shift in valuation based on updated financial assumptions.
Analysis Article • Oct 01

Blackbaud (NASDAQ:BLKB) Might Have The Makings Of A Multi-Bagger

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Analysis Article • Aug 19

Blackbaud, Inc.'s (NASDAQ:BLKB) Revenues Are Not Doing Enough For Some Investors

NasdaqGS:BLKB 1 Year Share Price vs Fair Value Explore Blackbaud's Fair Values from the Community and select yours With...
Analysis Article • Jul 12

Blackbaud, Inc. (NASDAQ:BLKB) Shares Could Be 29% Below Their Intrinsic Value Estimate

Key Insights Using the 2 Stage Free Cash Flow to Equity, Blackbaud fair value estimate is US$90.00 Current share price...
Analysis Article • Apr 25

When Should You Buy Blackbaud, Inc. (NASDAQ:BLKB)?

Blackbaud, Inc. ( NASDAQ:BLKB ), is not the largest company out there, but it received a lot of attention from a...
Analysis Article • Apr 02

Is Blackbaud, Inc. (NASDAQ:BLKB) Trading At A 26% Discount?

Key Insights The projected fair value for Blackbaud is US$86.27 based on 2 Stage Free Cash Flow to Equity Blackbaud is...
Seeking Alpha • Feb 19

Blackbaud: Growth Rates Deteriorate Further In Q4, Invest Elsewhere

Summary Blackbaud's growth rates deteriorated further in Q4, especially after its sale of underperforming subsidiary EVERFI. Blackbaud's reliance on M&A has led to a highly leveraged balance sheet with $1 billion in net debt and poor acquisition outcomes. The company's new pricing strategy, involving significant rate increases, risks higher customer churn, further stalling revenue growth. Despite challenges, BLKB stock isn't cheap either at ~25x forward FCF. Sell this stock and invest elsewhere. Read the full article on Seeking Alpha
Seeking Alpha • Nov 28

Blackbaud: This Story Is Souring Quickly (Rating Downgrade)

Summary I'm downgrading Blackbaud to a sell rating, especially as weaker ESG activity impacts the company's EVERFI division. Q3 results showed decelerating revenue growth, and in my view, trends are likely to worsen in FY25 as the company laps its pricing actions this year. The company’s aggressive buyback program is unsustainable due to insufficient cash flow and high debt levels, raising concerns about future financial stability. Blackbaud isn't expensive, but neither is it a value stock at ~18x P/E and ~22x FCF. Read the full article on Seeking Alpha
Seeking Alpha • Sep 17

Blackbaud: Good Value As The Company Steps Up Buybacks, Improves Margins

Summary Blackbaud's expanded $500 million buyback program, representing 20% of its market cap, signals management's confidence in the company's undervaluation and future cash flows. The company's organic revenue growth, driven by price increases and redesigned renewal contracts, showcases strong execution despite a tough macro environment. Blackbaud's rising margin profile and strategic divestitures have consistently improved profitability, with Q2 pro forma operating margins reaching 30% and adjusted EBITDA up 15% y/y. Despite recent gains, Blackbaud's valuation remains decent. I'm maintaining a buy rating and a $91 price target, but get ready to lock in gains soon. Read the full article on Seeking Alpha
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New Narrative • Sep 02

Generative AI Fuels Operational Gains And Sharpens Competitive Edge Amid Financial Optimism

Introduction of generative AI and aggressive technology investments are poised to bolster business attraction and reinforce customer loyalty, enhancing revenue.

Earnings and Revenue Growth Forecasts

NasdaqGS:BLKB - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,2741712682841
12/31/20271,2271542823325
12/31/20261,1761432643155
3/31/20261,140142253316N/A
12/31/20251,128115204266N/A
9/30/20251,135-269219281N/A
6/30/20251,140-298184246N/A
3/31/20251,145-300165233N/A
12/31/20241,155-300229296N/A
9/30/20241,14852154219N/A
6/30/20241,13943176243N/A
3/31/20241,12322180242N/A
12/31/20231,1073136200N/A
9/30/20231,085-25150217N/A
6/30/20231,069-44129197N/A
3/31/20231,063-50132201N/A
12/31/20221,058-45133204N/A
9/30/20221,031-31166234N/A
6/30/20221,001-15135196N/A
3/31/2022966-5152208N/A
12/31/20219286162214N/A
9/30/2021922-1157209N/A
6/30/2021906-2140210N/A
3/31/20219093132203N/A
12/31/2020913876148N/A
9/30/20209082397170N/A
6/30/202091522119175N/A
3/31/202090818108168N/A
12/31/201990012N/A182N/A
9/30/201988420N/A186N/A
6/30/201987227N/A180N/A
3/31/201986026N/A180N/A
12/31/201884945N/A201N/A
9/30/201884572N/A191N/A
6/30/201883074N/A188N/A
3/31/201880878N/A175N/A
12/31/201778874N/A176N/A
9/30/201776954N/A177N/A
6/30/201775850N/A159N/A
3/31/201774748N/A160N/A
12/31/201673245N/A154N/A
9/30/201670831N/A140N/A
6/30/201668430N/A130N/A
3/31/201666028N/A132N/A
12/31/201563826N/A129N/A
9/30/201561524N/A106N/A
6/30/201560127N/A105N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BLKB's forecast earnings growth (10.7% per year) is above the savings rate (3.5%).

Earnings vs Market: BLKB's earnings (10.7% per year) are forecast to grow slower than the US market (16.8% per year).

High Growth Earnings: BLKB's earnings are forecast to grow, but not significantly.

Revenue vs Market: BLKB's revenue (3.9% per year) is forecast to grow slower than the US market (11.7% per year).

High Growth Revenue: BLKB's revenue (3.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BLKB's Return on Equity is forecast to be high in 3 years time (31.2%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/19 14:18
End of Day Share Price 2026/05/19 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Blackbaud, Inc. is covered by 22 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Robert OliverBaird
Mark SchappelBenchmark Company
Kevin LiuB. Riley Securities, Inc.