Why Blackbaud Stock Is Skyrocketing Today

(NASDAQ: BLKB)) stock is seeing huge gains on Wednesday following the company's recent quarterly report. The software specialist's share price was up 20.5% as of 2:25 p.m. ET, even though the S 500 had fallen 0.5% and the Nasdaq Composite was down 0.3%.

Blackbaud released its second-quarter results before the market opened this morning, reporting stronger-than-expected earnings even though sales came in below expectations. While the company reiterated its previously issued guidance, commentary from management has investors betting that results for the year could wind up better than previously anticipated.

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Source Fool.com