BlackLine (NASDAQ:BL) Research Coverage Started at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of BlackLine (NASDAQ:BL) in a report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $65.00 price objective on the technology company’s stock.

Several other brokerages have also recently commented on BL. Weiss Ratings reissued a “hold (c-)” rating on shares of BlackLine in a report on Monday, November 24th. Baird R W downgraded BlackLine from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Morgan Stanley lifted their target price on BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Robert W. Baird reissued a “neutral” rating and set a $55.00 price objective (down previously from $64.00) on shares of BlackLine in a research report on Friday, November 7th. Finally, 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. Six 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.23.

BlackLine Stock Performance

BL stock opened at $58.04 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s fifty day moving average is $54.04 and its two-hundred day moving average is $54.46. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 52.29, a PEG ratio of 13.98 and a beta of 0.88. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25.

BlackLine (NASDAQ:BL) last posted its earnings results on Thursday, November 6th. The technology company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $178.29 million during the quarter, compared to analysts’ expectations of $178.11 million. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. BlackLine’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. 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, research analysts predict that BlackLine will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other BlackLine 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 value of $50,050.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackLine

Several hedge funds and other institutional investors have recently modified their holdings of BL. Hawk Ridge Capital Management LP boosted its position in BlackLine by 124.3% in the first quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company’s stock valued at $94,901,000 after buying an additional 1,086,185 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of BlackLine by 106.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company’s stock valued at $57,443,000 after purchasing an additional 611,499 shares during the period. American Century Companies Inc. boosted its position in shares of BlackLine by 7.2% in the 1st quarter. American Century Companies Inc. now owns 961,341 shares of the technology company’s stock worth $46,548,000 after purchasing an additional 64,676 shares during the last quarter. Geneva Capital Management LLC grew its stake in shares of BlackLine by 5.6% during the second quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company’s stock worth $52,335,000 after purchasing an additional 49,292 shares during the period. Finally, Tensile Capital Management LP increased its stake in shares of BlackLine by 17.6% in the 1st quarter. Tensile Capital Management LP now owns 871,485 shares of the technology company’s stock valued at $42,197,000 after acquiring an additional 130,488 shares during the last quarter. 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.