Blackbaud (BLKB) Stock Surpasses Analyst Target: What’s Next?
In recent trading, shares of Blackbaud, Inc. (Symbol: BLKB) have crossed above the average analyst 12-month target price of $84.40, trading at $85.22 per share. When a stock hits the target set by analysts, they typically respond in one of two ways: they may downgrade due to valuation, or they may raise their target price. Analyst reactions can also be influenced by the company’s recent performance. If the company’s future looks bright, a target price increase might be warranted.
Analysts in the Zacks coverage universe have varied target prices for Blackbaud, contributing to the average mentioned above. While some analysts have lower targets, such as $70.00, others are optimistic, predicting prices as high as $95.00. The standard deviation among these targets stands at $9.964, indicating a range of opinions.
The value of looking at the average price target lies in what is often termed the “wisdom of crowds.” This approach aggregates insights from multiple analysts rather than relying on a single perspective. As Blackbaud’s stock trades above the average target price of $84.40, this presents an opportunity for investors. They now need to evaluate whether $84.40 is a temporary milestone on the way to a higher target or if the price has reached a point where profit-taking is advisable. Below is a table detailing the current sentiments of analysts covering Blackbaud, Inc.:
| Recent BLKB Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 1 | 1 | 1 | 1 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 3 | 3 | 3 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.4 | 2.4 | 2.4 | 2.25 |
The average rating shown in the last row of the table reflects a scale from 1 to 5, where 1 signifies a Strong Buy and 5 indicates a Strong Sell. Data was provided by Zacks Investment Research through Quandl.com.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
