BlackLine (NASDAQ:BL) Rating Increased to Hold at Zacks Research

Key Points

• BlackLine's rating was upgraded from a "strong sell" to a "hold" by Zacks Research, reflecting improved sentiment among analysts.
• The stock has a consensus price target of $60.58, with five analysts rating it a Buy, seven a Hold, and two a Sell.
• BlackLine reported earnings that exceeded estimates, with a quarterly EPS of $0.51 and revenue of $172.03 million, up 7.2% from the previous year.

BlackLine (NASDAQ:BL - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. JMP Securities restated a "market outperform" rating and set a $80.00 target price on shares of BlackLine in a research report on Thursday, September 11th. DA Davidson restated a "neutral" rating and set a $56.00 target price on shares of BlackLine in a research report on Wednesday, August 6th. BMO Capital Markets increased their price target on BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Citigroup reaffirmed a "buy" rating and set a $67.00 price target (up from $58.00) on shares of BlackLine in a report on Wednesday, July 16th. Finally, Truist Financial increased their price target on BlackLine from $45.00 to $50.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, BlackLine presently has a consensus rating of "Hold" and a consensus price target of $60.58.

BlackLine Stock Performance

Shares of BlackLine stock opened at $50.62 on Monday. The firm has a market capitalization of $3.13 billion, a P/E ratio of 39.24, a P/E/G ratio of 8.57 and a beta of 0.97. BlackLine has a 52 week low of $40.82 and a 52 week high of $66.25. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61. The firm's 50 day moving average is $52.90 and its two-hundred day moving average is $52.56.

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 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 the consensus estimate of $170.87 million. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The company's revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $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. Research analysts forecast that BlackLine will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at BlackLine

In other news, CAO Michelle D. Stalick sold 664 shares of BlackLine stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $54.03, for a total transaction of $35,875.92. Following the completion of the transaction, the chief accounting officer owned 23,830 shares of the company's stock, valued at $1,287,534.90. The trade was a 2.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas Unterman sold 910 shares of BlackLine stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the transaction, the director directly owned 42,745 shares of the company's stock, valued at $2,350,975. This trade represents a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,369 shares of company stock valued at $186,155 in the last ninety days. Corporate insiders own 8.60% of the company's stock.

Institutional Trading of BlackLine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in BlackLine by 15.5% in the 1st quarter. Royal Bank of Canada now owns 311,247 shares of the technology company's stock valued at $15,070,000 after buying an additional 41,653 shares during the period. Tensile Capital Management LP grew its holdings in BlackLine by 17.6% in the 1st quarter. Tensile Capital Management LP now owns 871,485 shares of the technology company's stock valued at $42,197,000 after buying an additional 130,488 shares during the period. Public Employees Retirement System of Ohio grew its holdings in BlackLine by 36.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 105,889 shares of the technology company's stock valued at $5,995,000 after buying an additional 28,196 shares during the period. New York State Common Retirement Fund grew its holdings in BlackLine by 7.8% in the 1st quarter. New York State Common Retirement Fund now owns 159,076 shares of the technology company's stock valued at $7,702,000 after buying an additional 11,549 shares during the period. Finally, Invenomic Capital Management LP purchased a new stake in BlackLine in the 1st quarter valued at about $3,466,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

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.

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