BlackLine (NASDAQ:BL) Trading 9.2% Higher - Should You Buy?

Key Points

• BlackLine shares rose 9.2% to $34.19 in mid-day trading, although volume was 81% below the stock’s average daily volume.
• Analysts have a mixed view: five rate the stock a Buy, eight a Hold and two a Sell. The overall consensus is “Hold,” with an average price target of $40.08.
• BlackLine exceeded quarterly expectations with adjusted EPS of $0.61 versus $0.57 expected and revenue of $187.82 million, up 9.1% year over year. However, directors recently sold shares, including a 70,000-share sale by Therese Tucker.

BlackLine (NASDAQ:BL - Get Free Report) shot up 9.2% during mid-day trading on Thursday . The stock traded as high as $33.80 and last traded at $34.1890. Approximately 235,956 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,222,527 shares. The stock had previously closed at $31.32.

Analyst Upgrades and Downgrades

BL has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of BlackLine from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, August 5th. Wall Street Zen lowered BlackLine from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Cantor Fitzgerald restated a "neutral" rating and set a $36.00 price target on shares of BlackLine in a research note on Wednesday, August 5th. BMO Capital Markets lifted their price objective on shares of BlackLine from $34.00 to $36.00 and gave the company a "market perform" rating in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities lowered their target price on shares of BlackLine from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $40.08.

BlackLine Stock Up 6.8%

The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.12. The business has a 50-day simple moving average of $29.62 and a 200-day simple moving average of $31.96. The stock has a market cap of $1.94 billion, a P/E ratio of 58.76, a PEG ratio of 2.10 and a beta of 0.64.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. The company had revenue of $187.82 million for the quarter, compared to analyst estimates of $186.99 million. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. The company's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. Analysts expect that BlackLine will post 0.98 EPS for the current year.

Insider Transactions at BlackLine

In related news, Director Mika Yamamoto sold 3,000 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $28.48, for a total transaction of $85,440.00. Following the completion of the transaction, the director owned 16,692 shares of the company's stock, valued at approximately $475,388.16. The trade was a 15.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Therese Tucker sold 70,000 shares of BlackLine stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $31.96, for a total value of $2,237,200.00. Following the completion of the transaction, the director directly owned 381,557 shares in the company, valued at approximately $12,194,561.72. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 9.10% of the company's stock.

Hedge Funds Weigh In On BlackLine

Several large investors have recently bought and sold shares of BL. Measured Wealth Private Client Group LLC bought a new stake in shares of BlackLine in the third quarter valued at about $25,000. Kestra Advisory Services LLC bought a new position in BlackLine during the fourth quarter valued at about $28,000. Optiver Holding B.V. raised its holdings in BlackLine by 13,828.6% in the 1st quarter. Optiver Holding B.V. now owns 975 shares of the technology company's stock valued at $36,000 after acquiring an additional 968 shares in the last quarter. Leonteq Securities AG lifted its position in shares of BlackLine by 1,019.6% in the 1st quarter. Leonteq Securities AG now owns 1,086 shares of the technology company's stock worth $40,000 after acquiring an additional 989 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of BlackLine by 306.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,220 shares of the technology company's stock worth $67,000 after purchasing an additional 920 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

About BlackLine

BlackLine, Inc is a leading provider of cloud-based software solutions designed to automate and modernize the finance and accounting function. The company's flagship offering, the BlackLine Finance Controls and Automation Platform, enables organizations to streamline critical processes such as account reconciliations, journal entry management, intercompany accounting, and transaction matching. By delivering a centralized, real-time view of financial data, BlackLine helps companies improve operational efficiency, enhance compliance and strengthen internal controls.

Key products and services within the BlackLine platform include Account Reconciliation, Task Management, Transaction Matching, Journal Entry, and Intercompany Hub.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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