Blackbaud
BLKB
collaborated with the Change donation platform to provide companies with “customer-facing giving experiences”. Change is a technology platform used by companies across the globe to conduct charitable endeavors, including carbon-neutral shipping, loyalty programs and charitable non-fungible token or NFTs.
Majority of people across the United States are willing to switch to brands that are actively involved in social causes, added Blackbaud, citing a research report from Cone. Blackbaud added that the collaboration with Change Platform would help provide corporate clients with the ability to run charitable events at the point of sale and aid in matching customer donations and provide donation options in loyalty programs.
Blackbaud is providing innovative solutions to companies as they overhaul their corporate social responsibility or CSR strategies. The company is engaged in providing cloud-based and on-premise software solutions and related services primarily for social good organizations.
Blackbaud’s performance is being driven by strength in recurring revenues and bookings growth led by the rapid migration of enterprises to the cloud amid pandemic-induced digitalization taking place globally. The robust uptick in JustGiving, Raiser’s Edge NXT and Financial Edge NXT is a tailwind. The expansion of product portfolio, frequent product launches and strategic collaborations bode well.
In January 2022, Blackbaud
acquired
EVERFI in a cash and stock deal worth $750 million, subject to certain customary conditions. EVERFI provides Impact-as-a-Service (“IaaS”) solution and digital educational content, which is being used by 45 million learners worldwide. The acquisition also provides cross-selling and upselling opportunities with Blackbaud’s YourCause solution.
EVERFI expands Blackbaud’s total addressable market or TAM to more than $20 billion. Half of the company’s TAM now represents the lucrative corporate sector, added Blackbaud.
The company’s performance is likely to be affected by evolving coronavirus-situation, which might affect demand across small- and medium-sized businesses. Stiff competition in the cloud space and a leveraged balance sheet are other concerns.
Zacks Rank & Stocks to Consider
Currently, Blackbaud has a Zacks Rank #5 (Strong Sell).
Better-ranked stocks worth considering from the broader technology sector include
Broadcom
AVGO
,
Apple
AAPL
and T
exas Instruments
TXN
. Texas Instruments sports a Zacks Rank #1 (Strong Buy), while Apple and Broadcom carry a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Broadcom’s fiscal 2022 earnings is pegged at $33.81 per share. The long-term earnings growth rate of the company is pegged at 14.5%.
Broadcom’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 1.9%. Shares of Broadcom have increased 34.1% in the past year.
The Zacks Consensus Estimate for Apple’s fiscal 2022 earnings is pegged at $6.16 per share. The long-term earnings growth rate of the company is pegged at 12.5%.
Apple’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 20.3%. Shares of AAPL have rallied 31.8% in the past year.
The Zacks Consensus Estimate for Texas Instruments for 2022 earnings is pegged at $9.09 per share. The long-term earnings growth rate of the company is pegged at 9.3%.
Texas Instruments’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.4%. Shares of TXN are up 1.9% in the past year.
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