Blackbaud Stock Can See 20% Upside

SourceForbes
SectorFinancial Markets
CountryMiddle east

BRAZIL - 2020/10/18: In this photo illustration the Blackbaud logo seen displayed on a smartphone. ... [+] (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images We believe that Blackbaud’s stock (NASDAQ NDAQ : BLKB) still has more than 20% upside once the fear around the pandemic subsides. Blackbaud, a cloud computing provider, saw its stock lose around 33% in value so far this year.

It traded at a pre-Covid high of $80 in January, and is still below that level. BLKB stock has gained 7% from the low of $49 seen in March 2020, after the Fed’s multi-billion dollar stimulus package announced on March 23rd which lifted market sentiments. The stock price rose as lockdowns lifted across regions creating a positive market sentiment. Despite the rally in BLKB stock since late March, we believe that the stock has more room for growth. Our conclusion is based on our detailed analysis of Blackbaud’s stock performance during the current crisis with that during the 2008 recession in our dashboard analysis. 2020 Coronavirus Crisis Timeline of 2020 Crisis So Far: 12/12/2019: Coronavirus cases first reported ...read more...