BlackLine (NASDAQ:BL) Stock Jumps 8.4% – Here’s What Happened

Shares of BlackLine (NASDAQ:BL) shot up 8.4% during mid-day trading on Thursday. The stock traded as high as $33.73 and last traded at $34.2040. 312,137 shares traded hands during trading, a decline of 73% from the average daily volume of 1,170,636 shares. The stock had previously closed at $31.56.

Analyst Upgrades and Downgrades

BL has been the topic of a number of research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $33.00 price target (down from $50.00) on shares of BlackLine in a report on Tuesday, July 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $36.00 price objective on shares of BlackLine in a report on Wednesday, August 5th. Robert W. Baird set a $35.00 price objective on BlackLine in a report on Wednesday, August 5th. Scotiabank downgraded BlackLine to an “outperform” rating in a research report on Tuesday, July 21st. Finally, Piper Sandler lowered their target price on BlackLine from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.50.

BlackLine Price Performance

The business’s fifty day simple moving average is $30.05 and its 200-day simple moving average is $29.78. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.12. The firm has a market cap of $2.02 billion, a P/E ratio of 61.05, a PEG ratio of 2.25 and a beta of 0.74.

BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $187.82 million during the quarter, compared to analyst estimates of $186.99 million. BlackLine had a return on equity of 20.89% and a net margin of 4.75%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. As a group, analysts forecast that BlackLine will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling at BlackLine

In related news, CAO Michelle D. Stalick sold 780 shares of BlackLine stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $33.65, for a total transaction of $26,247.00. Following the completion of the sale, the chief accounting officer owned 34,712 shares of the company’s stock, valued at approximately $1,168,058.80. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Therese Tucker sold 70,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.96, for a total value of $2,237,200.00. Following the transaction, the director owned 381,557 shares of the company’s stock, valued at approximately $12,194,561.72. The trade was a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of BlackLine

Several institutional investors and hedge funds have recently modified their holdings of BL. Fifth Third Wealth Advisors LLC purchased a new stake in shares of BlackLine during the third quarter valued at approximately $242,000. Sterling Capital Management LLC grew its holdings in shares of BlackLine by 824.0% in the third quarter. Sterling Capital Management LLC now owns 1,617 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,442 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of BlackLine in the third quarter worth $25,000. Farther Finance Advisors LLC increased its stake in shares of BlackLine by 258.0% in the third quarter. Farther Finance Advisors LLC now owns 1,908 shares of the technology company’s stock worth $51,000 after buying an additional 1,375 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of BlackLine by 11.8% in the third quarter. Versant Capital Management Inc now owns 3,722 shares of the technology company’s stock worth $99,000 after buying an additional 392 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Company Profile

BlackLine, Inc provides cloud-based financial operations and accounting automation software for businesses. Its platform is designed to help accounting and finance teams manage, standardize and automate processes that traditionally rely on spreadsheets, manual data entry and disconnected systems.

The company’s products support financial close and consolidation, account reconciliations, transaction matching, intercompany accounting, accounts receivable automation and invoice-to-cash workflows.