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Blackbaud (BLKB) Enhances Good Move to Boost Fundraising

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Blackbaud (BLKB - Free Report) has announced that it is increasing its investment in the rapidly expanding peer-to-peer (P2P) fundraising sector. The company plans to enhance its mobile app for activity tracking - Good Move.

Good Move, launched in 2023, has improved fundraising by enabling customizable wellness events that encompass a wide range of activities beyond conventional walks, runs and cycling. The latest enhancement will allow Good Move to serve as a robust mobile hub for Blackbaud TeamRaiser, simplifying the experience for participants and offering self-service features for social impact customers.

The enhancements will allow customers to embrace a mobile app experience even for events not focused on activity tracking. This allows organizations to run campaigns dedicated solely to fundraising while retaining engaging "gamification" features and essential P2P tools. Moreover, customers can effortlessly integrate Good Move-powered capabilities into their existing TeamRaiser events, streamlining event management and bolstering fundraising potential.

Blackbaud is a cloud software company that offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes, especially social good organizations. The company plans to launch AI-enabled capabilities (AI for peer-to-peer fundraisers, AI for donor stewardship and AI for corporate impact) across its portfolio to help clients to optimize fundraising.

In October, the company announced it was working on a new AI-powered, social impact reporting and storytelling solution — Impact Edge. Impact Edge will integrate YourCause from Blackbaud and EVERFI from Blackbaud solutions within a single tool to consolidate data gathered from all reliable sources into one centralized location. This will bolster visibility, collaboration and impact storytelling.

The company’s performance is driven by momentum in transactional revenues owing to robust demand for the company’s JustGiving platform. Also, rising volumes across its payment solutions is a major tailwind.

BLKB currently carries a Zacks Rank #2 (Buy). In the past year, the stock has gained 43.9% compared with the Zacks sub-industry’s growth of 31.7%

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Other Stocks to Consider

Some other top-ranked stocks in the broader technology space are Asure Software (ASUR - Free Report) , Synopsys (SNPS - Free Report) and Watts Water Technologies (WTS - Free Report) . Asure Software and Synopsys currently sport a Zacks Rank #1 (Strong Buy), whereas Watts Water Technologies carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Asure Software’s 2023 earnings per share (EPS) has increased 5.9% in the past 60 days to 54 cents.

Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 676.4%. Shares of ASUR have surged 78.5% in the past year.

The Zacks Consensus Estimate for Synopsys’ fiscal 2023 EPS has gained 2.5% in the past 60 days to $11.09. SNPS’ long-term earnings growth rate is 16.4%. Shares of SNPS have surged 78.5% in the past year.

The Zacks Consensus Estimate for Watts Water’s 2023 EPS has increased 1% in the past 60 days to $7.78. The company’s long-term earnings growth rate is 7.5%.

Watts Water’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 12.5%. Shares of WTS have rallied 42.4% in the past year.

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