Blackbaud, Inc. (BLKB) Stock

Blackbaud, Inc. (BLKB) is a Technology stock trading at $47.57 (as of 2026-08-21), with a market capitalization of $2.16B and a trailing P/E of 14.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Blackbaud, Inc. offers cloud software for fundraising, donor and customer relationship management, marketing and engagement, and financial, grant, and program management. Its solutions serve organizations including higher education institutions, K–12 schools, healthcare organizations, faith communities, arts and cultural groups, foundations, and companies, as well as individual users internationally.

Understand Blackbaud, Inc.: how it makes money

Blackbaud provides cloud software for fundraising, relationship management, and donor and volunteer engagement, selling platforms like Raiser's Edge NXT, CRM, eTapestry, and Luminate Online to nonprofit, education, healthcare, faith, and arts organizations, generating revenue mainly from recurring software activity plus smaller one-time services.

Blackbaud’s profit engine is retention of existing customers in its recurring cloud software base, captured by Gross Dollar Retention, because that ability to keep revenue from the installed base supports ongoing organic revenue.

Revenue by segment (latest quarter)
Organic	$0.3B
One-Time & Other	$0.0B

Business quality (Solid): The company’s business is clearly described as cloud software for fundraising and engagement, and the dataset includes key operating retention metrics (Gross Dollar Retention, Customer Retention Rate) that map to the recurring model. However, the available segment breakdown here is limited to revenue groupings (Organic versus One-Time & Other), not separate product lines or platform categories.

Valuation: Trades at 9× trailing earnings · $1B market cap.

Bull case

Retention strength supports the recurring revenue model: Gross Dollar Retention is 90.0%, and Customer Retention Rate is 93.0%, which indicates existing customers are contributing to retained revenue.
Revenue is concentrated in recurring business: GAAP Recurring Revenue is 0.28 USD_B, and Organic Revenue is 0.28 USD_B, showing that most revenue comes from the ongoing base rather than one-time items.

Bear case

Mix risk across customer sectors: Corporate Sector Revenue Decline is 9.2%, and Social Sector Revenue Share is 89.0%, so weaker performance in one sector could pressure consolidated results if social sector trends change.
Limited contribution from one-time revenue: One-Time Services and Other Revenue is 0.01 USD_B, so there is less room for one-time activity to offset declines in recurring performance.

Valuation — source: SEC EDGAR (first-party)
Price	$47.57
Market Cap	$2.16B
P/E Ratio	14.9
EV / EBITDA	6.6
Price / Book	32.21
Price / Sales	1.90
FCF Yield	20.4%
DCF Value (model)	$45.87
DCF Upside vs Price	-3.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.13B
Net Margin	10.2%
Revenue Growth (YoY)	-2.3%
EPS Growth (YoY)	-111.6%
FCF Growth (YoY)	-25.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.19 (distress)
Piotroski F-Score	8/9 (strong)

Valuation vs Sector & Industry
Stock P/E	14.9
Sector P/E (Technology)	34.0
Industry P/E (Business Services)	30.2
vs Sector	-56.2%
vs Industry	-50.7%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	CLEARLAKE CAPITAL GROUP, L.P. ($376.52M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Business Services
CEO	Michael Gianoni
Employees	2,600
Country	US
IPO Date	2004-07-26

Related Companies (Business model: SaaS / Subscription Software (Enterprise); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.