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Fly News Breaks for January 16, 2019
BLKB
Jan 16, 2019 | 16:17 EDT
Stephens analyst James Rutherford initiated Blackbaud with an Overweight rating and a price target of $86, citing the company's position as a "leading software provider to the non-profit industry". The analyst believes that the company's upcoming FY19 guidance will be below consensus because of the "pains arising from cloud transition", but urges investors to buy into weakness given the company's "large market opportunity, strong product set, sticky customers, revenue growth, and annual margin expansion".
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