BlackLine (NASDAQ:BL) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of BlackLine (NASDAQ:BL) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

A number of other equities analysts also recently commented on BL. Piper Sandler boosted their target price on shares of BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citizens Jmp reiterated a “market outperform” rating and set a $70.00 target price on shares of BlackLine in a research note on Tuesday, April 28th. Raymond James Financial reiterated an “outperform” rating and set a $50.00 target price on shares of BlackLine in a research note on Wednesday. DA Davidson lowered their target price on shares of BlackLine from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Truist Financial lowered their target price on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating for the company in a research note on Thursday. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, BlackLine presently has a consensus rating of “Hold” and an average price target of $45.27.

BlackLine Stock Performance

Shares of BL stock opened at $30.63 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.47 and a debt-to-equity ratio of 2.18. The firm has a fifty day moving average price of $34.59 and a 200 day moving average price of $46.24. The company has a market cap of $1.83 billion, a P/E ratio of 71.23, a PEG ratio of 2.15 and a beta of 0.69. BlackLine has a 12 month low of $28.78 and a 12 month high of $59.57.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. The firm had revenue of $183.16 million during the quarter, compared to the consensus estimate of $181.00 million. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Sell-side analysts predict that BlackLine will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of BlackLine by 20.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company’s stock valued at $39,354,000 after buying an additional 181,577 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of BlackLine by 467.0% in the first quarter. Parallel Advisors LLC now owns 2,030 shares of the technology company’s stock valued at $75,000 after buying an additional 1,672 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of BlackLine by 11.1% in the first quarter. Principal Financial Group Inc. now owns 361,796 shares of the technology company’s stock valued at $13,386,000 after buying an additional 36,034 shares during the last quarter. Granite Investment Partners LLC raised its holdings in shares of BlackLine by 3.3% in the first quarter. Granite Investment Partners LLC now owns 82,990 shares of the technology company’s stock valued at $3,071,000 after buying an additional 2,626 shares during the last quarter. Finally, Leonteq Securities AG raised its holdings in shares of BlackLine by 1,019.6% in the first quarter. Leonteq Securities AG now owns 1,086 shares of the technology company’s stock valued at $40,000 after buying an additional 989 shares during the last quarter. 95.13% of the stock is 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.