BlackLine (NASDAQ:BL) Shares Up 8.1% – Here’s What Happened

BlackLine (NASDAQ:BL)’s share price shot up 8.1% on Friday . The company traded as high as $33.31 and last traded at $33.79. 324,945 shares changed hands during trading, a decline of 73% from the average session volume of 1,197,426 shares. The stock had previously closed at $31.25.

Wall Street Analyst Weigh In

A number of analysts recently commented on BL shares. Wall Street Zen upgraded shares of BlackLine from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Morgan Stanley dropped their price target on shares of BlackLine from $68.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday. BMO Capital Markets restated a “market perform” rating on shares of BlackLine in a research note on Wednesday, March 18th. DA Davidson dropped their price target on shares of BlackLine from $56.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 11th. Finally, Robert W. Baird set a $50.00 price target on shares of BlackLine in a research note on Wednesday, February 11th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BlackLine presently has an average rating of “Hold” and an average price target of $54.18.

BlackLine Stock Up 8.5%

The company has a market capitalization of $2.02 billion, a PE ratio of 84.78, a PEG ratio of 2.45 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.47 and a current ratio of 1.47. The stock’s 50 day moving average is $34.75 and its 200 day moving average is $46.65.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, February 10th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. BlackLine had a net margin of 3.50% and a return on equity of 18.14%. The business had revenue of $183.18 million for the quarter, compared to analysts’ expectations of $182.98 million. During the same period in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. BlackLine has set its Q1 2026 guidance at 0.440-0.460 EPS and its FY 2026 guidance at 2.370-2.480 EPS. On average, sell-side analysts anticipate that BlackLine will post 1.01 EPS for the current fiscal year.

Institutional Trading of BlackLine

Several institutional investors and hedge funds have recently bought and sold shares of the company. Granite Investment Partners LLC lifted its stake in BlackLine by 3.3% in the 1st quarter. Granite Investment Partners LLC now owns 82,990 shares of the technology company’s stock worth $3,071,000 after purchasing an additional 2,626 shares in the last quarter. Leonteq Securities AG lifted its stake in BlackLine by 1,019.6% in the 1st quarter. Leonteq Securities AG now owns 1,086 shares of the technology company’s stock worth $40,000 after purchasing an additional 989 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in BlackLine by 12.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 8,651 shares of the technology company’s stock worth $320,000 after purchasing an additional 930 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in BlackLine by 25.5% in the 1st quarter. Wesbanco Bank Inc. now owns 41,400 shares of the technology company’s stock worth $1,532,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in BlackLine in the 1st quarter worth approximately $821,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

About BlackLine

BlackLine, Inc is a leading provider of cloud-based software solutions designed to automate and modernize the finance and accounting function. The company’s flagship offering, the BlackLine Finance Controls and Automation Platform, enables organizations to streamline critical processes such as account reconciliations, journal entry management, intercompany accounting, and transaction matching. By delivering a centralized, real-time view of financial data, BlackLine helps companies improve operational efficiency, enhance compliance and strengthen internal controls.

Key products and services within the BlackLine platform include Account Reconciliation, Task Management, Transaction Matching, Journal Entry, and Intercompany Hub.