BlackLine (NASDAQ:BL) Lowered to “Hold” Rating by Baird R W

Baird R W lowered shares of BlackLine (NASDAQ:BL) from a strong-buy rating to a hold rating in a research note released on Friday,Zacks.com reports.

A number of other analysts have also recently weighed in on BL. Robert W. Baird restated a “neutral” rating and issued a $55.00 price target (down from $64.00) on shares of BlackLine in a research note on Friday. BMO Capital Markets decreased their target price on BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a research note on Friday. Raymond James Financial upgraded shares of BlackLine from a “market perform” rating to an “outperform” rating and set a $67.00 price target on the stock in a research note on Tuesday, July 29th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of BlackLine in a research report on Thursday, September 11th. Finally, Truist Financial increased their target price on shares of BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Five equities 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 company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.50.

BlackLine Stock Down 5.7%

Shares of BlackLine stock traded down $3.24 on Friday, reaching $53.58. 1,618,453 shares of the company were exchanged, compared to its average volume of 1,324,922. The stock’s 50 day moving average price is $53.37 and its 200-day moving average price is $53.67. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.25. The company has a market cap of $3.32 billion, a P/E ratio of 48.27, a price-to-earnings-growth ratio of 9.32 and a beta of 1.02.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. BlackLine had a net margin of 11.07% and a return on equity of 13.68%. The company had revenue of $178.29 million during the quarter, compared to the consensus estimate of $178.11 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS. Q4 2025 guidance at 0.580-0.610 EPS. As a group, equities analysts forecast that BlackLine will post 0.9 EPS for the current year.

Insider Activity at BlackLine

In other news, CAO Michelle D. Stalick sold 664 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $54.03, for a total value of $35,875.92. Following the completion of the sale, the chief accounting officer owned 23,830 shares in the company, valued at approximately $1,287,534.90. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Unterman sold 910 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $55.00, for a total transaction of $50,050.00. Following the transaction, the director owned 41,835 shares in the company, valued at approximately $2,300,925. This trade represents a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,394 shares of company stock valued at $186,026 in the last 90 days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. increased its stake in BlackLine by 22.9% in the 3rd quarter. Bessemer Group Inc. now owns 989 shares of the technology company’s stock valued at $53,000 after purchasing an additional 184 shares in the last quarter. Amalgamated Bank increased its position in shares of BlackLine by 1.3% in the third quarter. Amalgamated Bank now owns 15,143 shares of the technology company’s stock valued at $804,000 after buying an additional 191 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of BlackLine by 9.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,618 shares of the technology company’s stock worth $148,000 after buying an additional 225 shares during the last quarter. Blue Trust Inc. boosted its position in shares of BlackLine by 3.8% in the 3rd quarter. Blue Trust Inc. now owns 6,901 shares of the technology company’s stock worth $366,000 after buying an additional 250 shares in the last quarter. Finally, Xponance Inc. grew its stake in BlackLine by 6.8% in the 1st quarter. Xponance Inc. now owns 4,422 shares of the technology company’s stock valued at $214,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds 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.