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CHARLESTON, S.C. - Blackbaud (NASDAQ:BLKB), a $2.97 billion market cap technology company currently trading below its Fair Value according to InvestingPro analysis, announced over 70 sector-specific AI capabilities and introduced its first agentic AI product at its annual bbcon conference, according to a press release statement issued Wednesday.
The company revealed "Blackbaud Agents for Good," described as virtual team members that can handle complex tasks and workflows within the Blackbaud environment. The first of these, called the Development Agent, is designed to manage donor portfolios and communication. With annual revenue of $1.14 billion and five analysts recently revising earnings estimates upward, Blackbaud shows promising growth potential.
"The rise of AI represents a once-in-a-generation paradigm shift for social impact organizations," said Mike Gianoni, Blackbaud’s president and CEO, in the statement.
The company also announced the formation of the AI Coalition for Social Impact, which includes founding members such as Anthropic, Databricks, GivingTuesday, and The Nonprofit Alliance. The coalition will launch a free, platform-agnostic AI certification course for the social impact sector, with registration for the first module opening later this year.
Among the AI capabilities highlighted were Chat for Blackbaud AI, a conversational assistant; Prospect Insights Pro for customizing prospect segmentation; and Document Intelligence, which can extract data from invoices to create draft accounts payable records.
The company also introduced Expedited Giving, which aims to speed up donation disbursement from corporate giving programs by up to 95% compared to traditional methods.
Blackbaud’s Chief Data and AI Officer Carrie Cobb emphasized the company’s commitment to responsible AI development, stating that "AI isn’t just transforming technology—it’s transforming responsibility."
The three-day conference concluded with the announcement that next year’s bbcon will be held in Columbus, Ohio, from September 29 to October 1, 2026.
In other recent news, Blackbaud reported strong Q2 2025 earnings, surpassing market expectations. The company posted an earnings per share of $1.21, exceeding the forecasted $1.06, and reported revenue of $281 million, slightly above the $276.46 million forecast. In addition to the earnings report, Blackbaud announced significant updates to its Impact Edge platform, enhancing its corporate social responsibility reporting tool with new AI capabilities and data integrations. These updates include the integration of True Impact’s outcome-based data and a new Charity Discovery Tool powered by Candid, enabling users to access nonprofit profiles and impact metrics more efficiently.
Meanwhile, Stifel has adjusted its price target for Blackbaud to $65.00 from $75.00, maintaining a Hold rating due to multiple compression. This adjustment follows Stifel’s observations at Blackbaud’s annual customer conference, where discussions highlighted increased innovation and platform functionality. These developments provide investors with a comprehensive view of Blackbaud’s recent progress and challenges.
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