BlackLine (NASDAQ:BL) Stock Rating Lowered by 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) was downgraded by investment analysts at DA Davidson from a "strong-buy" rating to a "neutral" rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $56.00 price target on the technology company's stock. DA Davidson's target price suggests a potential upside of 7.69% from the stock's previous close. DA Davidson also issued estimates for BlackLine's Q3 2025 earnings at $0.22 EPS and FY2025 earnings at $1.02 EPS.

Other analysts have also recently issued research reports about the stock. Truist Financial boosted their price target on shares of BlackLine from $40.00 to $45.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley decreased their target price on BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler increased their price target on BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Raymond James Financial upgraded BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target for the company in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group decreased their price objective on BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.29.

BlackLine Stock Down 4.5%

Shares of BL opened at $52.00 on Wednesday. The business's 50 day moving average is $55.90 and its 200 day moving average is $53.10. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.59. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25. The company has a market capitalization of $3.24 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 8.99 and a beta of 0.91.

BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 13.05% and a return on equity of 15.98%. The company's revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. Research analysts expect that BlackLine will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at BlackLine

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp bought a new stake in BlackLine during the 2nd quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of BlackLine during the second quarter valued at $33,000. Quadrant Capital Group LLC increased its stake in shares of BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after buying an additional 414 shares during the period. Huntington National Bank raised its holdings in shares of BlackLine by 57.5% in the second quarter. Huntington National Bank now owns 1,235 shares of the technology company's stock valued at $70,000 after acquiring an additional 451 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in BlackLine in the fourth quarter worth about $73,000. Hedge funds and other institutional investors 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.