BlackLine (NASDAQ:BL) Receives Market Outperform Rating from JMP Securities

Key Points

• BlackLine has received a "market outperform" rating from JMP Securities with a price target of $80.00, indicating a potential upside of 49.09% from its previous close.
• The company reported $0.51 earnings per share for the last quarter, exceeding estimates, and anticipates FY 2025 EPS guidance between 2.130-2.240.
• Analyst ratings reflect mixed sentiment with five 'Buy', five 'Hold', and three 'Sell' ratings, leading to an average target price of $60.58.

BlackLine (NASDAQ:BL - Get Free Report)'s stock had its "market outperform" rating restated by analysts at JMP Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $80.00 price objective on the technology company's stock. JMP Securities' target price would suggest a potential upside of 49.09% from the company's previous close.

BL has been the topic of a number of other research reports. Truist Financial upped their price target on BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Zacks Research upgraded BlackLine to a "strong sell" rating in a research report on Friday, August 8th. Wall Street Zen lowered BlackLine from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Citigroup restated a "buy" rating and issued a $67.00 target price (up previously from $58.00) on shares of BlackLine in a research note on Wednesday, July 16th. Finally, Raymond James Financial upgraded BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 target price for the company in a research note on Tuesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, BlackLine presently has an average rating of "Hold" and an average price target of $60.58.

BlackLine Price Performance

BlackLine stock opened at $53.66 on Thursday. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $3.32 billion, a PE ratio of 41.60, a P/E/G ratio of 8.96 and a beta of 0.95. The stock has a 50-day moving average price of $53.99 and a two-hundred day moving average price of $51.95.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The company 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 firm's revenue was up 7.2% compared to the same quarter last year. During the same period last 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. Analysts expect that BlackLine will post 0.9 EPS for the current year.

Insider Transactions at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 664 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer owned 23,830 shares of the company's stock, valued at approximately $1,287,534.90. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On BlackLine

A number of hedge funds have recently made changes to their positions in BL. Atlantic Union Bankshares Corp purchased a new stake in shares of BlackLine in the second quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BlackLine in the second quarter worth about $33,000. Huntington National Bank lifted its position 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 worth $70,000 after buying an additional 451 shares in the last quarter. Strs Ohio purchased a new stake in BlackLine during the first quarter valued at approximately $82,000. Finally, Osaic Holdings Inc. raised its position in BlackLine by 44.9% during the second quarter. Osaic Holdings Inc. now owns 1,542 shares of the technology company's stock valued at $87,000 after purchasing an additional 478 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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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