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Why Blackbaud (BLKB) is a Top Growth Stock for the Long-Term

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.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

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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 B. Earnings are expected to grow 7% year-over-year for the current fiscal year, with sales growth of 7.1%.

One analyst revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.02 to $4.26 per share. BLKB also boasts an average earnings surprise of 10%.

Blackbaud is also cash rich. The company has generated cash flow growth of 5.6%, and is expected to report cash flow expansion of 41.8% in 2024.

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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Blackbaud, Inc. (BLKB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research