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Posted by
Two Blokes May 2 -
Filed in
Stock
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Blackbaud's stock has declined ~15% since January, exacerbated by a poor Q1 earnings release, and I maintain a sell rating due to further downside risks. The company's outlook of ~5% organic growth seems unrealistic given weak Q1 trends and a challenging macro environment. Blackbaud's aggressive buyback plans are questionable, with only $37.2 million in cash against $1.21 billion in debt and $68 million annual interest costs.
