BlackLine (NASDAQ:BL) Receives Average Recommendation of "Hold" from Analysts

Key Points

• BlackLine has received a consensus rating of "Hold" from analysts, with three sell ratings, five hold ratings, and five buy ratings, and an average 12-month price target of $61.08.
• Recent upgrades include Morgan Stanley increasing their price target from $65.00 to $68.00 and Raymond James upgrading from "market perform" to "outperform" with a $67.00 target.
• BlackLine reported a 7.2% year-over-year revenue increase in its recent quarterly earnings, achieving $172.03 million, and exceeding analysts’ forecast of $170.87 million.

BlackLine (NASDAQ:BL - Get Free Report) has received a consensus rating of "Hold" from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $61.0833.

BL has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of BlackLine from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Truist Financial boosted their target price on shares of BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Citigroup restated a "buy" rating and issued a $67.00 price objective (up from $58.00) on shares of BlackLine in a research note on Wednesday, July 16th. Finally, Piper Sandler boosted their price objective on shares of BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th.

BlackLine Stock Up 1.3%

BlackLine stock traded up $0.68 during midday trading on Monday, hitting $53.29. 309,251 shares of the stock were exchanged, compared to its average volume of 757,671. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25. The firm has a market cap of $3.30 billion, a P/E ratio of 41.28, a P/E/G ratio of 8.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. The company has a 50 day moving average price of $54.29 and a two-hundred day moving average price of $51.83.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $172.03 million for the quarter, compared to analysts' expectations of $170.87 million. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The company's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. On average, sell-side analysts predict that BlackLine will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 664 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $54.03, for a total value of $35,875.92. Following the completion of the sale, the chief accounting officer owned 23,830 shares in the company, valued at approximately $1,287,534.90. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On BlackLine

A number of institutional investors have recently added to or reduced their stakes in BL. Hawk Ridge Capital Management LP boosted its position in BlackLine by 124.3% during the first quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company's stock worth $94,901,000 after purchasing an additional 1,086,185 shares during the period. Westwood Holdings Group Inc. raised its stake in BlackLine by 106.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company's stock valued at $57,443,000 after purchasing an additional 611,499 shares in the last quarter. American Century Companies Inc. raised its stake in BlackLine by 7.2% in the first quarter. American Century Companies Inc. now owns 961,341 shares of the technology company's stock valued at $46,548,000 after purchasing an additional 64,676 shares in the last quarter. Geneva Capital Management LLC raised its stake in BlackLine by 5.6% in the second quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company's stock valued at $52,335,000 after purchasing an additional 49,292 shares in the last quarter. Finally, Tensile Capital Management LP raised its stake in BlackLine by 17.6% during the first quarter. Tensile Capital Management LP now owns 871,485 shares of the technology company's stock worth $42,197,000 after acquiring an additional 130,488 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.