DA Davidson analyst Rishi Jaluria raised the price target on Blackbaud to $110 after hosting the company's CEO Mike Gianoni for an investor meeting. Jaluria says the management's tone on business performance was positive, with expectations of future opportunities "bigger than in the last four years". The analyst believes that the company's organic revenue growth can accelerate from higher subscriptions and sales organization changes, while its Microsoft partnership can add to that growth over time. Jaluria keeps his Neutral rating on Blackbaud, saying shares are fairly valued on Enterprise Value to Free Cash Flow basis.