Blackbaud downgraded to Underweight from Neutral at JPMorgan JPMorgan downgraded Blackbaud to Underweight citing valuation and potential risks from the company's transition. The firm has a $38 price target for shares.
News For BLKB From The Last 14 Days
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Blackbaud raises FY14 revenue view to $545M-$560M from $535M-$550M FY14 consensus $546.67M. Sees FY14 non-GAAP income from operations to range from $94M-$100M with a midpoint of $97M, consensus $1.21. The updated range midpoints for revenue and non-GAAP income from operations represent increases of $10M and $2M, respectively, from previously provided 2014 full-year goals. The increases were a result of the company's better than originally expected second quarter and year to date financial performance which is expected to continue for the remainder of 2014 and as a result of modest incremental revenue expected from the acquisition of WhippleHill.