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Fly News Breaks for January 3, 2019
BLKB
Jan 3, 2019 | 09:28 EDT
DA Davidson analyst Rishi Jaluria lowered his price target on Blackbaud to $65 and kept his Neutral rating after the company closes its $157M acquisition of YourCase. While the acquiree does not provide details of financials, the analyst estimates a contribution of $25M-$30M in 2019 with added dilution on the Blackbaud margins. Jaluria adds that the deal may be positive from a "strategic perspective", but he also sees the price tag at 5- to 6-times revenue as "a little higher than typical" for Blackbaud.
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