Analysts Set BlackLine (NASDAQ:BL) PT at $61.23

Shares of BlackLine (NASDAQ:BL) have received a consensus rating of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $61.2308.

Several equities analysts recently issued reports on BL shares. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. DA Davidson raised shares of BlackLine to a “hold” rating in a research note on Monday, November 10th. Morgan Stanley upped their price target on shares of BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, November 10th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of BlackLine in a report on Thursday, September 11th. Finally, BMO Capital Markets lowered their price objective on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a research note on Friday, November 7th.

BlackLine Price Performance

Shares of BlackLine stock opened at $58.67 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.52 and a current ratio of 1.52. BlackLine has a 52-week low of $40.82 and a 52-week high of $66.25. The company has a fifty day moving average of $54.78 and a 200-day moving average of $54.61. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 52.86, a price-to-earnings-growth ratio of 13.96 and a beta of 0.88.

BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. The business had revenue of $178.29 million during the quarter, compared to the consensus estimate of $178.11 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. Equities research analysts expect that BlackLine will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas Unterman sold 910 shares of BlackLine stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the sale, the director directly owned 41,835 shares in the company, valued at approximately $2,300,925. This trade represents a 2.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Trading of BlackLine

Several large investors have recently added to or reduced their stakes in the stock. Hawk Ridge Capital Management LP boosted its position in BlackLine by 124.3% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company’s stock valued at $94,901,000 after acquiring an additional 1,086,185 shares in the last quarter. First Manhattan CO. LLC. lifted its stake in shares of BlackLine by 408.7% in the 1st quarter. First Manhattan CO. LLC. now owns 815,975 shares of the technology company’s stock valued at $39,510,000 after purchasing an additional 655,565 shares during the period. Nuveen LLC bought a new stake in shares of BlackLine during the first quarter valued at approximately $25,194,000. Ensign Peak Advisors Inc boosted its position in shares of BlackLine by 2,460.0% during the second quarter. Ensign Peak Advisors Inc now owns 520,325 shares of the technology company’s stock valued at $29,461,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Norges Bank purchased a new stake in BlackLine in the second quarter worth $19,830,000. Institutional investors own 95.13% of the company’s stock.

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.