BlackLine (NASDAQ:BL) Upgraded at Piper Sandler

BlackLine (NASDAQ:BL) was upgraded by analysts at Piper Sandler to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on BL. Morgan Stanley upped their price objective on BlackLine from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of BlackLine in a research note on Monday, December 29th. DA Davidson upgraded shares of BlackLine to a “hold” rating in a research note on Monday, November 10th. Rosenblatt Securities decreased their price target on shares of BlackLine from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Citigroup reissued a “market outperform” rating on shares of BlackLine in a research note on Tuesday, October 28th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and a consensus target price of $59.83.

BlackLine Stock Performance

Shares of BlackLine stock opened at $44.43 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.03. The company has a market cap of $2.64 billion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 8.93 and a beta of 0.86. The company has a 50 day moving average of $55.27 and a 200-day moving average of $54.13. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.02.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 EPS for the quarter, meeting 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 business earned $0.60 earnings per share. The company’s revenue 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. As a group, equities research analysts forecast that BlackLine will post 0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BL. Crossmark Global Holdings Inc. bought a new stake in BlackLine during the 4th quarter worth approximately $205,000. Wesbanco Bank Inc. lifted its holdings in shares of BlackLine by 50.0% during the fourth quarter. Wesbanco Bank Inc. now owns 33,000 shares of the technology company’s stock worth $1,825,000 after purchasing an additional 11,000 shares during the period. Pacific Park Financial Inc. bought a new stake in shares of BlackLine in the fourth quarter worth $372,000. ST Germain D J Co. Inc. bought a new stake in shares of BlackLine in the fourth quarter worth $175,000. Finally, Teacher Retirement System of Texas increased its holdings in BlackLine by 5,776.8% in the fourth quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock valued at $26,300,000 after purchasing an additional 467,571 shares during the period. Institutional investors own 95.13% of the company’s stock.

BlackLine Company Profile

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.