BlackLine (NASDAQ:BL - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.
BL has been the subject of a number of other reports. DA Davidson decreased their target price on BlackLine from $45.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday. Citigroup lowered their price target on shares of BlackLine from $60.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday. Raymond James Financial reaffirmed an "outperform" rating and issued a $50.00 price target on shares of BlackLine in a research report on Wednesday. Cantor Fitzgerald lowered their price target on shares of BlackLine from $58.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, February 11th. Finally, Morgan Stanley lowered their price target on shares of BlackLine from $68.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BlackLine currently has an average rating of "Hold" and an average price target of $45.27.
Get Our Latest Report on BL
BlackLine Trading Down 1.7%
Shares of NASDAQ BL opened at $30.63 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.70 and a debt-to-equity ratio of 2.18. The business has a fifty day simple moving average of $34.59 and a two-hundred day simple moving average of $46.24. The firm has a market cap of $1.83 billion, a PE ratio of 71.23, a price-to-earnings-growth ratio of 2.19 and a beta of 0.69. BlackLine has a twelve month low of $28.78 and a twelve month high of $59.57.
BlackLine (NASDAQ:BL - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.11. The business had revenue of $183.16 million during the quarter, compared to analyst estimates of $181.00 million. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.BlackLine's revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Analysts expect that BlackLine will post 1.04 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in BL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BlackLine by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,670 shares of the technology company's stock valued at $1,679,000 after acquiring an additional 1,814 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of BlackLine by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,763 shares of the technology company's stock valued at $7,978,000 after acquiring an additional 7,228 shares during the period. Intech Investment Management LLC increased its holdings in shares of BlackLine by 28.1% in the 1st quarter. Intech Investment Management LLC now owns 25,883 shares of the technology company's stock valued at $1,253,000 after acquiring an additional 5,682 shares during the period. Strs Ohio purchased a new position in shares of BlackLine in the 1st quarter valued at $82,000. Finally, Invesco Ltd. boosted its position in shares of BlackLine by 36.6% in the 2nd quarter. Invesco Ltd. now owns 235,263 shares of the technology company's stock worth $13,321,000 after purchasing an additional 63,068 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.
About BlackLine
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider BlackLine, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackLine wasn't on the list.
While BlackLine currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
