Brokers Set Expectations for BlackLine FY2025 Earnings

BlackLine, Inc. (NASDAQ:BL - Free Report) - Research analysts at Cantor Fitzgerald issued their FY2025 EPS estimates for shares of BlackLine in a research note issued on Tuesday, June 3rd. Cantor Fitzgerald analyst M. Vanvliet expects that the technology company will post earnings of $1.09 per share for the year. Cantor Fitzgerald currently has a "Neutral" rating and a $58.00 price target on the stock. The consensus estimate for BlackLine's current full-year earnings is $0.90 per share.

A number of other brokerages also recently issued reports on BL. Citigroup reduced their price target on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Morgan Stanley reduced their price target on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson reduced their price target on shares of BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.54.

BlackLine Price Performance

NASDAQ BL traded down $0.87 on Thursday, reaching $57.35. The company had a trading volume of 1,410,923 shares, compared to its average volume of 759,602. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $3.57 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The firm's 50 day moving average price is $50.02 and its 200 day moving average price is $54.72. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25.

Insider Transactions at BlackLine

In related news, CAO Michelle D. Stalick sold 795 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total transaction of $43,836.30. Following the transaction, the chief accounting officer now directly owns 25,235 shares in the company, valued at approximately $1,391,457.90. This represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Mark Woodhams sold 1,856 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total transaction of $101,430.40. Following the transaction, the executive now owns 61,390 shares in the company, valued at $3,354,963.50. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On BlackLine

Several large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in BlackLine by 0.6% in the 1st quarter. Rhumbline Advisers now owns 146,839 shares of the technology company's stock valued at $7,110,000 after buying an additional 815 shares during the period. Strs Ohio purchased a new stake in BlackLine in the 1st quarter valued at about $82,000. Intech Investment Management LLC boosted its position in 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 buying an additional 5,682 shares during the period. Bayforest Capital Ltd boosted its position in BlackLine by 282.6% in the 1st quarter. Bayforest Capital Ltd now owns 4,277 shares of the technology company's stock valued at $207,000 after buying an additional 3,159 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 buying an additional 7,228 shares during the period. 95.13% of the stock is 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.