BlackLine's (BL) Neutral Rating Reiterated at DA Davidson

Key Points

• DA Davidson has initiated coverage on BlackLine (NASDAQ:BL) with a neutral rating and a price target of $56.00, indicating a potential upside of 2.88% from its current price.
• Other analysts have mixed sentiments, with Morgan Stanley lowering its price target to $65.00 while Citigroup raised its target to $67.00, resulting in a consensus rating of Hold and an average target price of $61.07.
• In the latest earnings report, BlackLine exceeded expectations with $0.51 EPS and revenue of $172.03 million, reflecting a 7.2% increase year-over-year.

BlackLine (NASDAQ:BL - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at DA Davidson in a research note issued to investors on Wednesday, August 6th, MarketBeat.com reports. They currently have a $56.00 price objective on the technology company's stock. DA Davidson's price target suggests a potential upside of 9.25% from the company's current price. DA Davidson also issued estimates for BlackLine's Q3 2025 earnings at $0.22 EPS, FY2025 earnings at $1.02 EPS and FY2026 earnings at $1.21 EPS.

Several other research analysts also recently commented on BL. Truist Financial raised their price objective on BlackLine from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Morgan Stanley reduced their price objective on BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler raised their price objective on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen downgraded BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, BMO Capital Markets lifted their price target on BlackLine from $60.00 to $63.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $61.08.

BlackLine Price Performance

NASDAQ BL traded up $1.92 during trading on Wednesday, hitting $51.26. 1,496,601 shares of the stock traded hands, compared to its average volume of 754,344. The company has a market capitalization of $3.17 billion, a P/E ratio of 39.74, a price-to-earnings-growth ratio of 7.88 and a beta of 0.91. The firm has a 50-day simple moving average of $55.34 and a 200-day simple moving average of $52.74. The company has a quick ratio of 1.64, a current 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.

BlackLine (NASDAQ:BL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $172.03 million during the quarter, compared to analyst estimates of $170.87 million. BlackLine had a return on equity of 15.95% and a net margin of 13.05%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.58 EPS. As a group, analysts predict that BlackLine will post 0.9 EPS for the current year.

Insider Buying and Selling

In other news, CAO Michelle D. Stalick sold 795 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the completion of the sale, the chief accounting officer directly owned 25,235 shares in the company, valued at $1,391,457.90. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Mark Woodhams sold 1,856 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total value of $101,430.40. Following the completion of the sale, the executive owned 61,390 shares of the company's stock, valued at $3,354,963.50. This trade represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp acquired a new position in BlackLine during the second quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new position in BlackLine during the second quarter worth $33,000. Quadrant Capital Group LLC lifted its stake in BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock worth $35,000 after purchasing an additional 414 shares in the last quarter. Huntington National Bank lifted its stake in BlackLine by 57.5% during the second quarter. Huntington National Bank now owns 1,235 shares of the technology company's stock worth $70,000 after purchasing an additional 451 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in BlackLine during the fourth quarter worth $73,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.