Here's Why Blackbaud (BLKB) is a Strong Growth Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Blackbaud (BLKB)

Headquartered in Charleston, SC, Blackbaud Inc. is a leading cloud software company working for social causes. The company combines technology and expertise to help organizations achieve their missions.

BLKB is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 7% year-over-year for the current fiscal year, with sales growth of 6.9%.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.04 to $4.26 per share. BLKB boasts an average earnings surprise of 10%.

On a historic basis, Blackbaud has generated cash flow growth of 5.6%, and is expected to report cash flow expansion of 41.8% this year.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, BLKB should be on investors' short lists.

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