BlackLine (NASDAQ:BL) Posts Earnings Results, Hits Expectations

BlackLine (NASDAQ:BL) issued its quarterly earnings results on Thursday. The technology company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51, Briefing.com reports. BlackLine had a net margin of 11.07% and a return on equity of 13.68%. The company had revenue of $178.29 million for the quarter, compared to the consensus estimate of $178.11 million. During the same period in the previous year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. BlackLine updated its FY 2025 guidance to 2.080-2.130 EPS and its Q4 2025 guidance to 0.580-0.610 EPS.

BlackLine Stock Performance

Shares of NASDAQ:BL traded down $3.24 during trading on Friday, hitting $53.58. 1,618,453 shares of the company were exchanged, compared to its average volume of 1,324,922. BlackLine has a 52-week low of $40.82 and a 52-week high of $66.25. The stock has a 50 day moving average of $53.37 and a 200 day moving average of $53.73. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market cap of $3.32 billion, a PE ratio of 48.27, a P/E/G ratio of 8.79 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BL. DA Davidson reissued a “neutral” rating and set a $56.00 target price on shares of BlackLine in a research report on Wednesday, August 6th. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of BlackLine in a report on Thursday, September 11th. Truist Financial boosted their target price on BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BlackLine in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.50.

Insiders Place Their Bets

In other BlackLine news, Director Thomas Unterman sold 910 shares of BlackLine stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $55.00, for a total transaction of $50,050.00. Following the completion of the transaction, the director owned 41,835 shares of the company’s stock, valued at $2,300,925. The trade was a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Michelle D. Stalick sold 664 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $54.03, for a total value of $35,875.92. Following the sale, the chief accounting officer owned 23,830 shares in the company, valued at approximately $1,287,534.90. This represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,394 shares of company stock worth $186,026. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BL. Select Equity Group L.P. lifted its position in shares of BlackLine by 112.9% in the 2nd quarter. Select Equity Group L.P. now owns 209,711 shares of the technology company’s stock worth $11,874,000 after purchasing an additional 111,205 shares during the period. Sone Capital Management LLC bought a new position in BlackLine in the second quarter worth about $5,511,000. Invesco Ltd. raised its stake in BlackLine by 36.6% in the second quarter. Invesco Ltd. now owns 235,263 shares of the technology company’s stock worth $13,321,000 after buying an additional 63,068 shares in the last quarter. HRT Financial LP purchased a new stake in BlackLine in the second quarter worth about $2,920,000. Finally, Ameriprise Financial Inc. boosted its position in BlackLine by 10.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 482,790 shares of the technology company’s stock valued at $27,336,000 after acquiring an additional 47,469 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.