BlackLine (NASDAQ:BL) Receives Average Rating of “Hold” from Brokerages

Shares of BlackLine (NASDAQ:BL) have been given an average recommendation of “Hold” by the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $60.5833.

Several research analysts have issued reports on BL shares. Weiss Ratings restated a “hold (c)” rating on shares of BlackLine in a report on Wednesday, October 8th. Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. BMO Capital Markets raised their price target on shares of BlackLine from $60.00 to $63.00 and gave the stock a “market perform” rating in a report on Wednesday, August 6th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of BlackLine in a report on Thursday, September 11th. Finally, DA Davidson restated a “neutral” rating and set a $56.00 price target on shares of BlackLine in a report on Wednesday, August 6th.

BlackLine Stock Up 5.0%

Shares of NASDAQ BL opened at $52.29 on Tuesday. The company has a 50 day simple moving average of $52.54 and a 200 day simple moving average of $52.68. The firm has a market cap of $3.24 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 8.17 and a beta of 0.97. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The business had revenue of $172.03 million during the quarter, compared to analyst estimates of $170.87 million. During the same quarter last year, the business earned $0.58 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. On average, research analysts forecast that BlackLine will post 0.9 EPS for the current year.

Insider Activity at BlackLine

In other news, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the completion of the sale, the director owned 42,745 shares of the company’s stock, valued at $2,350,975. This trade represents a 2.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michelle D. Stalick sold 664 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $54.03, for a total transaction of $35,875.92. Following the sale, the chief accounting officer owned 23,830 shares of the company’s stock, valued at $1,287,534.90. This trade represents a 2.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,484 shares of company stock valued at $135,976. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On BlackLine

A number of hedge funds have recently bought and sold shares of the company. Hawk Ridge Capital Management LP boosted its holdings in BlackLine by 124.3% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company’s stock worth $94,901,000 after acquiring an additional 1,086,185 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in BlackLine by 106.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company’s stock worth $57,443,000 after acquiring an additional 611,499 shares during the last quarter. American Century Companies Inc. boosted its holdings in BlackLine by 7.2% during the 1st quarter. American Century Companies Inc. now owns 961,341 shares of the technology company’s stock worth $46,548,000 after acquiring an additional 64,676 shares during the last quarter. Geneva Capital Management LLC boosted its holdings in BlackLine by 5.6% during the 2nd quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company’s stock worth $52,335,000 after acquiring an additional 49,292 shares during the last quarter. Finally, Tensile Capital Management LP boosted its holdings in BlackLine by 17.6% during the 1st quarter. Tensile Capital Management LP now owns 871,485 shares of the technology company’s stock worth $42,197,000 after acquiring an additional 130,488 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

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.