BlackLine (NASDAQ:BL) Given Average Rating of “Hold” by Brokerages

Shares of BlackLine (NASDAQ:BL) have earned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $60.5833.

BL has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of BlackLine from $60.00 to $63.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Morgan Stanley increased their target price on shares of BlackLine from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Zacks Research raised shares of BlackLine to a “strong sell” rating in a research note on Friday, August 8th. JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of BlackLine in a research note on Thursday, September 11th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $56.00 price target on shares of BlackLine in a research note on Wednesday, August 6th.

BlackLine Price Performance

Shares of BL opened at $52.48 on Friday. The business’s 50-day moving average is $53.60 and its two-hundred day moving average is $52.39. The company has a market capitalization of $3.25 billion, a P/E ratio of 40.68, a P/E/G ratio of 8.83 and a beta of 0.95. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.64 and a current ratio of 1.64. BlackLine has a fifty-two week low of $40.82 and a fifty-two week high of $66.25.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The company had revenue of $172.03 million for the quarter, compared to the consensus estimate of $170.87 million. During the same period last year, the firm earned $0.58 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. Research analysts predict that BlackLine will post 0.9 earnings per share for the current year.

Insider Transactions at BlackLine

In related news, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $55.00, for a total value of $50,050.00. Following the transaction, the director directly owned 42,745 shares of the company’s stock, valued at approximately $2,350,975. This trade represents a 2.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michelle D. Stalick sold 664 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $54.03, for a total transaction of $35,875.92. Following the completion of the transaction, the chief accounting officer directly owned 23,830 shares in the company, valued at $1,287,534.90. This represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,369 shares of company stock worth $186,155 over the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Atlantic Union Bankshares Corp purchased a new position in BlackLine in the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BlackLine during the 2nd quarter worth approximately $33,000. Huntington National Bank increased its holdings in shares of BlackLine by 57.5% during the 2nd quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock worth $70,000 after buying an additional 451 shares during the last quarter. Strs Ohio acquired a new stake in shares of BlackLine during the 1st quarter worth approximately $82,000. Finally, Osaic Holdings Inc. increased its holdings in shares of BlackLine by 44.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,542 shares of the technology company’s stock worth $87,000 after buying an additional 478 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.