BlackLine (NASDAQ:BL) Earns 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.

JMP Securities restated their market outperform rating on shares of BlackLine (NASDAQ:BL - Free Report) in a report issued on Thursday,Benzinga reports. The brokerage currently has a $80.00 price target on the technology company's stock.

A number of other brokerages also recently issued reports on BL. Morgan Stanley upped their price target on BlackLine from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. DA Davidson reissued a "neutral" rating and issued a $56.00 target price on shares of BlackLine in a report on Wednesday, August 6th. Raymond James Financial raised BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 target price on the stock in a report on Tuesday, July 29th. Wall Street Zen downgraded BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Truist Financial increased their target price on BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Five 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. Based on data from MarketBeat.com, BlackLine presently has a consensus rating of "Hold" and a consensus price target of $60.58.

BlackLine Stock Up 0.5%

BlackLine stock traded up $0.27 during mid-day trading on Thursday, hitting $54.63. The company had a trading volume of 127,158 shares, compared to its average volume of 751,975. 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 stock's 50 day moving average price is $53.81 and its two-hundred day moving average price is $52.12. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The company has a market capitalization of $3.38 billion, a PE ratio of 42.32, a price-to-earnings-growth ratio of 8.91 and a beta of 0.95.

BlackLine (NASDAQ:BL - Get Free Report) last released its 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. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.The business had revenue of $172.03 million for the quarter, compared to the consensus estimate of $170.87 million. During the same period in the previous year, the company posted $0.58 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. As a group, sell-side analysts anticipate that BlackLine will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Michelle D. Stalick sold 664 shares of BlackLine stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BL. Atlantic Union Bankshares Corp acquired a new stake in shares of BlackLine in the second quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BlackLine in the second quarter valued at $33,000. Huntington National Bank grew its stake 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 valued at $70,000 after buying an additional 451 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of BlackLine by 44.9% in the second quarter. Osaic Holdings Inc. now owns 1,542 shares of the technology company's stock valued at $87,000 after buying an additional 478 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of BlackLine in the first quarter valued at $82,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

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.