24/7 Wall St. » BLKB

Top Analyst Downgrades (BLKB, CTXS, DSCO, EV, FII, LUV)

247wallst — Tue, 08 Sep 2009 12:05:20 +0000

These are some of the analyst downgrades and cautious research calls we have seen early this Tuesday morning on Wall Street:

Blackbaud (BLKB) Cut to Hold at Jefferies.
Citrix Systems (CTXS) Cut to Perform at Oppenheimer.
Discovery Labs (DSCO) Cut to Underperform at Jefferies.
Eaton Vance (EV) Cut to Underweight at JPMorgan.
Federated Investors (FII) Cut to Underweight at JPMorgan.
Southwest Air (LUV) Cut to Sell at Argus.

JON C. OGG

Posted in Analyst Calls Tagged: BLKB, CTXS, DSCO, EV, FII, LUV

Early Bird Analyst Downgrades (ADBE, BLKB, GLW, DE, ERIC, PCG, PPDI, PLD)

247wallst — Tue, 13 Jan 2009 07:16:07 +0000

These are some of the analyst downgrades we have seen from Wall Street this Tuesday morning with more than two hours until the open:

Adobe Systems (NASDAQ: ADBE) Cut to Underperform at FBR.
Blackbaud (NASDAQ: BLKB) Started as Sell at Maxim Group.
Corning (NYSE: GLW) Cut to Market Weight at Thomas Weisel.
Deere & Co. (NYSE: DE) Cut to Neutral at JPMorgan.
Ericsson (NASDAQ: ERIC) Cut to Sell at UBS.
PG&E (NYSE: PCG) Cut to Neutral at Goldman Sachs.
Pharmaceutical Product Development (NASDAQ: PPDI) Cut to Neutral at Goldman Sachs.
ProLogis (NYSE: PLD) Cut to Underweight at JPMorgan.

Jon C. Ogg
January 13, 2009

Posted in Analyst Calls Tagged: ADBE, BLKB, DE, ERIC, GLW, PCG, PLD, PPDI

Top Pre-Market Analyst Downgrades (ADBE, AMB, BLKB, KO, EMCI, HSII, KFN, OMTR, PLD, VAR, VMW, VMC)

247wallst — Mon, 06 Oct 2008 06:36:21 +0000

These are some of the top downgrades we have seen this Monday morning with about 2 hours until the open:

Adobe Systems (ADBE) Cut to Market Perform at FBR.
AMB Property (AMB) Cut to Sell at Goldman Sachs.
Blackbaud (BLKB) Cut to Market Perform at Wachovia.
Coca-Cola (KO) Cut to Hold at Deutsche Bank.
EMC Insurance (EMCI) Cut to Underperform at KBW.
Heidrick & Struggles (HSII) Cut to Underperform at Baird.
KKR Financial (KFN) Cut to Neutral at JPMorgan.
Omniture (OMTR) Cut to Market Perform at FBR.
ProLogis (PLD) Cut to Sell at Goldman Sachs.
Varian Medical (VAR) Cut to Neutral at JPMorgan.
VMware (VMW) Cut to Market Perform at Wachovia.
Vulcan Materials (VMC) Cut to Sell at Goldman Sachs.

Jon C. Ogg
October 6, 2008

Posted in Analyst Calls Tagged: ADBE, AMB, BLKB, EMCI, HSII, KFN, KO, OMTR, PLD, VAR, VMC, VMW

Top Pre-Market Analyst Upgrades (AIG, AU, AAPL, BLKB, CREE, GENZ, HGG, LL, RDS.A, WBD)

247wallst — Tue, 05 Aug 2008 06:28:26 +0000

These are some of the top analyst upgrades and positive calls we are seeing this Tuesday morning:

American International Group (AIG) Raised to Buy at UBS.
Anglogold (AU) Raised to Outperform at Credit Suisse.
Apple (AAPL) Started as Buy at UBS.
Blackbaud (BLKB) Raised to Buy at Jefferies.
Cree (CREE) Raised to Outperform at Morgan Keegan.
Genzyme (GENZ) Started as Buy at Banc of America.

Hhgregg (HGG) Started as Buy at KeyBanc.
Lumber Liquidators (LL) Started Aa Buy at KeyBanc.
Royal Dutch Shell (RDS.A) Raised to Overweight at HSBC.
Will-Bill-Dan Foods ADR (WBD) Raised to Buy at Citigroup.

Jon C. Ogg
August 5, 2008

IPO FILING: Convio, Inc, (CNVO, BLKB)

247wallst — Fri, 31 Aug 2007 13:19:13 +0000

Convio, Inc. has filed to come public via an IPO under the proposed ticker "CNVO" on NASDAQ. This Austin, Texas-based NPO software and service operator has a pretty impressive underwriting group with Goldman Sachs as the lead underwriter and others listed as Thomas Weisel, William Blair, JMP Securities, and Pacific Crest.

The company has on-demand software and services that enable nonprofit organizations to more effectively raise funds, influence public policy and support their missions. It claims it is leveraging the Internet to build strong relationships with constituents for fundraising, advocacy, email marketing and web content management complemented by consulting services. Convio says it developed its solution based on interactions with more than 1,200 active NPO clients; but as of June 30, 2007 its clients include 22 of the 50 largest charities in the United States. This includes the American Red Cross, American Cancer Society, CARE, Catholic Relief Services, Feed the Children, Inc., The Ocean Conservancy, Inc., Paralyzed Veterans of America, Public Broadcasting Service, Shriners Hospitals for Children and Smithsonian Institution.

For fiscal 2006 it posted $30.674 million in revenues, with an operating loss of $11.92 million, and a net loss of just over $12.5 million. In the first 6 months of 2007 here are the stats compared to 2006

YEAR REVENUE OPERATING NET
2007 $18.432M -$6.345M -$7.499m
2006 $13.714m -$6.039m -$6.196m

There are items that can explain this higher operating loss and higher net loss on revenues, but ideally that would look a little better. As of June 30, 2007, it listed 301 employees that are all based in the United States: 114 in sales, marketing, account management and business development; 42 in R&D; 123 in services, support and operations; and 22 in general and administration.

This looks on the surface as though it has many overlaps with Blackbaud, Inc. (NASDAQ:BLKB). Blackbaud can help manage a nonprofit organization’s fundraising activity, address the accounting needs of nonprofit organizations, and organize an independent school’s admissions and registrar processes. There is obviously Not a perfect overlap per se, but in the realm.

Jon C. Ogg
August 31, 2007