Blackbaud upgraded to ‘buy,’ posts higher Q2 profits

Blackbaud Inc. (Nasdaq:BLKB) was upgraded at Jeffries & Co. to “buy” from “hold” ahead of the opening The upgrade comes on the heels of the Charleston, S.C.-based company reporting a rise in its second quarter earnings. For the second quarter, net earnings were $9 million, or $0.21 per share, up from $8.2 million, or $0.19 a share, for the same period a year earlier. The company provides software and services designed for non-profit organizations. Blackbaud said it was lifted by boost in its maintenance revenue.

The company is up 6% during the last five trading days. In today’s trading, shares are at $18.72, up $0.61 at 9:52 a.m. ET. During the past year, shares have ranged from $17.05 to $30.23.

For detailed price information and recent news stories about Blackbaud Inc., click BLKB.

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