Blackbaud (BLKB) vs SPS Commerce (SPSC)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
SPS Commerce (SPSC) has outperformed Blackbaud (BLKB) over the past year, losing 23.3% versus a loss of 28.9%. Over five years, BLKB leads with a -40.2% price change compared with -48.9% for SPSC. SPS Commerce is the larger company by market cap ($3.01 billion vs $2.05 billion), about 1.5 times the size.
On valuation, Blackbaud trades at a lower forward P/E (7.6x vs 15.7x for SPS Commerce). SPS Commerce converts more of its revenue into profit, with a net margin of 12.4% versus 10.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | BLKB | SPSC |
|---|---|---|
| Share price | $45.11 | $83.51 |
| Market cap | $2.05B | $3.01B |
| 1-day change | +0.59% | +0.23% |
| YTD return | -29.19% | -6.52% |
| 1-year return | -28.88% | -23.29% |
| 5-year return | -40.23% | -48.86% |
| P/E ratio (TTM) | 14.10 | 40.34 |
| Forward P/E | 7.56 | 15.68 |
| EPS (TTM) | $3.20 | $2.07 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $1.13B | $751.50M |
| Revenue growth (YoY) | -2.27% | +17.83% |
| Net income (latest FY) | $114.97M | $93.34M |
| Gross margin | 58.78% | 69.18% |
| Operating margin | 16.91% | 15.74% |
| Net margin | 10.19% | 12.42% |
| 52-week high | $70.71 | $114.87 |
| 52-week low | $25.58 | $49.04 |
| Distance from 52-week high | -36.21% | -27.30% |
| Analyst consensus | buy | none |
| Avg. price target upside | +14.18% | -9.65% |
| Average volume | 525.88K | 554.72K |
| Shares outstanding | 45.39M | 36.00M |
| Employees | 2,800 | 2,948 |
| Sector | Technology | Technology |
| Industry | Computer Software: Prepackaged Software | Computer Software: Prepackaged Software |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- SPS Commerce trades at a higher earnings multiple (40.3x vs 14.1x trailing P/E).
- SPS Commerce grew revenue faster in its latest fiscal year (+17.83% vs -2.27%).
About Blackbaud
BLKB stock →Blackbaud, Inc. engages in the providing AI-powered solutions in the United States and internationally.
Technology · Computer Software: Prepackaged Software · 2,800 employees
About SPS Commerce
SPSC stock →SPS Commerce, Inc. provides cloud-based supply chain management solutions in the United States.
Technology · Computer Software: Prepackaged Software · 2,948 employees
BLKB vs SPSC FAQ
Which is bigger, Blackbaud or SPS Commerce?
SPS Commerce (SPSC) is larger, with a market capitalization of $3.01B compared with $2.05B for Blackbaud (BLKB).
Which stock has performed better over the past year, BLKB or SPSC?
SPSC returned -23.29% over the past 12 months, compared with -28.88% for BLKB (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, BLKB or SPSC?
BLKB has the lower trailing P/E at 14.1, versus 40.3 for SPSC. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are Blackbaud and SPS Commerce in the same industry?
Yes. Both are classified in the Computer Software: Prepackaged Software industry within the Technology sector.