Cantor Fitzgerald Decreases Earnings Estimates for BlackLine

Key Points

• Cantor Fitzgerald has reduced its earnings per share (EPS) estimate for BlackLine for FY2025 to $1.07, down from $1.09, while maintaining a "Neutral" rating with a price target of $58.00.
• BlackLine reported $0.51 EPS for the most recent quarter, exceeding estimates, with a year-over-year revenue increase of 7.2% to $172.03 million.
• Despite mixed ratings from various analysts, the average target price for BlackLine's stock stands at $61.29, with two analysts rating it as a sell and seven analysts giving it a buy rating.

BlackLine (NASDAQ:BL - Free Report) - Cantor Fitzgerald decreased their FY2025 earnings per share (EPS) estimates for shares of BlackLine in a report released on Wednesday, August 6th. Cantor Fitzgerald analyst M. Vanvliet now anticipates that the technology company will post earnings of $1.07 per share for the year, down from their prior forecast of $1.09. Cantor Fitzgerald 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. Cantor Fitzgerald also issued estimates for BlackLine's FY2026 earnings at $1.31 EPS.

BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $172.03 million for the quarter, compared to analysts' expectations of $170.87 million. BlackLine had a return on equity of 15.95% and a net margin of 13.05%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share.

BL has been the topic of several other research reports. Citigroup restated a "buy" rating and issued a $67.00 price target (up previously from $58.00) on shares of BlackLine in a research report on Wednesday, July 16th. Piper Sandler boosted their price objective on shares of BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen cut shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. The Goldman Sachs Group reduced their target price on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a research report on Thursday, April 17th. Finally, BMO Capital Markets upped their target price on shares of BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $61.08.

BlackLine Stock Up 0.7%

NASDAQ:BL traded up $0.34 during mid-day trading on Thursday, hitting $48.69. The company had a trading volume of 415,841 shares, compared to its average volume of 742,503. The business has a fifty day simple moving average of $55.66 and a 200-day simple moving average of $52.85. 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 firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 6.96 and a beta of 0.91. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25.

Hedge Funds Weigh In On BlackLine

Several large investors have recently added to or reduced their stakes in BL. Atlantic Union Bankshares Corp acquired a new position in shares of BlackLine during the 2nd quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BlackLine in the second quarter worth about $33,000. Quadrant Capital Group LLC lifted its position in shares of BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock worth $35,000 after buying an additional 414 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of BlackLine during the 4th quarter worth about $73,000. Finally, Huntington National Bank lifted its position in shares of BlackLine by 57.5% during the 2nd quarter. Huntington National Bank now owns 1,235 shares of the technology company's stock worth $70,000 after purchasing an additional 451 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 1,856 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $54.65, for a total value of $101,430.40. Following the completion of the sale, the executive directly owned 61,390 shares of the company's stock, valued at $3,354,963.50. This trade represents a 2.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michelle D. Stalick sold 795 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total value of $43,836.30. Following the transaction, the chief accounting officer owned 25,235 shares of the company's stock, valued at $1,391,457.90. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

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.