BlackLine (NASDAQ:BL) Given Consensus Recommendation of “Hold” by Analysts

Shares of BlackLine (NASDAQ:BL) have received an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $61.2308.

A number of research firms recently weighed in on BL. BMO Capital Markets decreased their target price on BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a report on Friday, November 7th. Robert W. Baird reissued a “neutral” rating and set a $55.00 target price (down from $64.00) on shares of BlackLine in a report on Friday, November 7th. Rosenblatt Securities assumed coverage on BlackLine in a research note on Tuesday, December 2nd. They set a “buy” rating and a $65.00 target price for the company. Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Baird R W lowered BlackLine from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th.

BlackLine Price Performance

Shares of BL opened at $58.37 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.03. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25. The stock’s 50-day moving average price is $54.35 and its two-hundred day moving average price is $54.53. The stock has a market cap of $3.47 billion, a P/E ratio of 52.59, a price-to-earnings-growth ratio of 13.72 and a beta of 0.88.

BlackLine (NASDAQ:BL) last announced its earnings results on Thursday, November 6th. The technology company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. The firm had revenue of $178.29 million for the quarter, compared to the consensus estimate of $178.11 million. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. On average, equities analysts predict that BlackLine will post 0.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas Unterman sold 910 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the transaction, the director owned 41,835 shares in the company, valued at $2,300,925. The trade was a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Trading of BlackLine

Several institutional investors have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new position in BlackLine in the third quarter valued at approximately $25,000. Atlantic Union Bankshares Corp purchased a new position in BlackLine in the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in BlackLine in the 2nd quarter worth $33,000. Versant Capital Management Inc lifted its position in shares of BlackLine by 110.4% in the 3rd quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares during the period. Finally, MAI Capital Management lifted its position in BlackLine by 10,000.0% during the third quarter. MAI Capital Management now owns 707 shares of the technology company’s stock valued at $38,000 after buying an additional 700 shares during the period. Institutional investors own 95.13% of the company’s stock.

BlackLine Company Profile

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.