BlackLine (NASDAQ:BL) Trading Down 11.4% – What’s Next?

BlackLine (NASDAQ:BL)’s share price dropped 11.4% during trading on Thursday . The company traded as low as $46.57 and last traded at $45.9150. Approximately 922,417 shares traded hands during trading, an increase of 10% from the average daily volume of 838,971 shares. The stock had previously closed at $51.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. 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 report on Friday, November 7th. Morgan Stanley increased their price target on shares of BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. DA Davidson raised shares of BlackLine to a “hold” rating in a research report on Monday, November 10th. Citigroup reiterated a “market outperform” rating on shares of BlackLine in a research note on Tuesday, October 28th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of BlackLine in a research note on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.83.

BlackLine Trading Down 0.9%

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market cap of $2.76 billion, a P/E ratio of 41.86, a PEG ratio of 8.91 and a beta of 0.86. The stock has a 50 day moving average of $55.72 and a 200 day moving average of $54.28.

BlackLine (NASDAQ:BL) last released its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.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 company posted $0.60 EPS. BlackLine’s quarterly revenue was up 7.5% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. As a group, equities research analysts predict that BlackLine will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BL. Pacific Park Financial Inc. purchased a new position in shares of BlackLine during the 4th quarter worth approximately $372,000. ST Germain D J Co. Inc. purchased a new position in shares of BlackLine in the fourth quarter worth approximately $175,000. Teacher Retirement System of Texas lifted its position in shares of BlackLine by 5,776.8% during the 4th quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock valued at $26,300,000 after buying an additional 467,571 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of BlackLine during the fourth quarter worth about $525,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BlackLine by 8.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,736 shares of the technology company’s stock valued at $870,000 after acquiring an additional 1,216 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

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.