BlackLine (NASDAQ:BL) Receives $60.58 Consensus Target Price from Analysts

Shares of BlackLine (NASDAQ:BL) have received an average recommendation of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $60.5833.

Several equities analysts have recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of BlackLine in a research note on Thursday, September 11th. Citigroup reaffirmed a “buy” rating and issued a $67.00 price objective (up from $58.00) on shares of BlackLine in a research note on Wednesday, July 16th. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of BlackLine in a research note on Wednesday, August 6th. Zacks Research raised BlackLine to a “strong sell” rating in a research note on Friday, August 8th. Finally, Truist Financial raised their target price on BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 7th.

Insider Activity

In related news, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $55.00, for a total transaction of $50,050.00. Following the sale, the director directly owned 42,745 shares in the company, valued at approximately $2,350,975. This trade represents a 2.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Michelle D. Stalick sold 664 shares of the firm’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. The trade was a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,369 shares of company stock worth $186,155. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On BlackLine

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Union Bankshares Corp purchased a new stake in BlackLine during the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in BlackLine during the 2nd quarter worth approximately $33,000. Huntington National Bank increased its holdings in BlackLine by 57.5% during the 2nd quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock worth $70,000 after purchasing an additional 451 shares during the last quarter. Osaic Holdings Inc. increased its holdings in BlackLine by 44.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,542 shares of the technology company’s stock worth $87,000 after purchasing an additional 478 shares during the last quarter. Finally, Strs Ohio purchased a new stake in BlackLine during the 1st quarter worth approximately $82,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Stock Up 0.5%

Shares of NASDAQ:BL opened at $51.32 on Friday. The stock’s 50-day moving average price is $53.16 and its two-hundred day moving average price is $52.51. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 8.38 and a beta of 0.97.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The firm had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. During the same period last year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. On average, research analysts forecast that BlackLine will post 0.9 EPS for the current year.

BlackLine Company Profile

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.