As previously reported, JMP Securities analyst Patrick Walravens downgraded Blackbaud (BLKB) to Market Perform from Outperform after the company cut guidance for 2018 for the second time in 70 days. The company's latest revisions, citing shortfalls in one-time revenue, payments, and giving rates in the United Kingdom, leave him wondering what Blackbaud will say about its growth expectations and level of investment for 2019, Walravens said. On the bright side, Blackbaud's focus on recurring revenue reminds Walravens of Cornerstone OnDemand's (CSOD) recent transformation nd the focus on integrated payments reminds him of MINDBODY (MB), he added.