Blackbaud(US:BLKB) ZACKSยท2024-10-31 03:31Core Insights - Blackbaud reported revenue of $286.73 million for the quarter ended September 2024, reflecting a year-over-year increase of 3.3% but a revenue surprise of -2.41% compared to the Zacks Consensus Estimate of $293.81 million [1] - The company's EPS for the quarter was $0.99, down from $1.12 in the same quarter last year, resulting in an EPS surprise of -5.71% against the consensus estimate of $1.05 [1] Revenue Breakdown - Recurring revenue was reported at $280.02 million, which is a 4.1% increase year-over-year but below the three-analyst average estimate of $287.44 million [3] - Revenue from one-time services and other sources was $6.71 million, exceeding the average estimate of $6.37 million, but showing a significant year-over-year decline of 22.2% [3] - Contractual recurring revenue stood at $194.80 million, which is a 3% increase year-over-year but below the two-analyst average estimate of $202.85 million [3] - Transactional recurring revenue was reported at $85.22 million, slightly below the average estimate of $85.57 million, reflecting a year-over-year increase of 6.8% [3] Stock Performance - Over the past month, Blackbaud's shares have returned +4.5%, outperforming the Zacks S&P 500 composite's +1.8% change [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]