BlackLine (NASDAQ:BL) Price Target Lowered to $55.00 at DA Davidson

BlackLine (NASDAQ:BL - Get Free Report) had its target price dropped by stock analysts at DA Davidson from $58.00 to $55.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. DA Davidson's price target points to a potential upside of 23.76% from the stock's previous close. DA Davidson also issued estimates for BlackLine's Q1 2025 earnings at $0.14 EPS, FY2025 earnings at $0.76 EPS and FY2026 earnings at $0.69 EPS.

Other equities analysts also recently issued research reports about the company. Piper Sandler decreased their target price on BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. Citigroup dropped their target price on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Truist Financial decreased their price target on shares of BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Finally, StockNews.com cut shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, BlackLine presently has a consensus rating of "Hold" and a consensus price target of $61.00.

BlackLine Stock Performance

BL traded down $0.18 during trading hours on Monday, reaching $44.44. The company's stock had a trading volume of 412,256 shares, compared to its average volume of 806,481. The company's 50-day moving average is $48.13 and its 200-day moving average is $56.04. BlackLine has a 52 week low of $40.82 and a 52 week high of $66.25. The firm has a market cap of $2.80 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. On average, equities analysts forecast that BlackLine will post 0.9 EPS for the current year.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the sale, the executive now owns 65,414 shares of the company's stock, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On BlackLine

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in BlackLine during the fourth quarter valued at $31,000. Global Retirement Partners LLC boosted its holdings in BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after acquiring an additional 449 shares in the last quarter. Quadrant Capital Group LLC grew its stake in BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after acquiring an additional 414 shares during the period. GAMMA Investing LLC increased its holdings in shares of BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after acquiring an additional 185 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of BlackLine during the fourth quarter valued at approximately $50,000. 95.13% of the stock is owned by institutional investors.

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.