Weiss Ratings Reaffirms Hold (C) Rating for BlackLine (NASDAQ:BL)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for BlackLine (NASDAQ:BL) amidst mixed ratings from other analysts, indicating cautious sentiment towards the stock.
• Recent trading showed BlackLine's shares up 0.3%, reaching $50.76, with a market capitalization of $3.14 billion.
• Financial performance for the last quarter exceeded expectations, with $172.03 million in revenue and an earnings per share of $0.51, slightly above the consensus estimate.

BlackLine (NASDAQ:BL - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

BL has been the topic of a number of other research reports. Morgan Stanley upped their target price on BlackLine from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Citigroup reiterated a "buy" rating and set a $67.00 target price (up from $58.00) on shares of BlackLine in a research report on Wednesday, July 16th. Raymond James Financial upgraded shares of BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target on the stock in a report on Tuesday, July 29th. Zacks Research upgraded shares of BlackLine from a "strong sell" rating to a "hold" rating in a report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of BlackLine from $60.00 to $63.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $60.58.

BlackLine Trading Up 0.3%

Shares of NASDAQ BL traded up $0.14 during trading hours on Wednesday, hitting $50.76. 508,783 shares of the company traded hands, compared to its average volume of 743,734. The company's 50 day moving average price is $52.90 and its 200 day moving average price is $52.56. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 8.57 and a beta of 0.97. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.61.

BlackLine (NASDAQ:BL - Get Free Report) last posted its quarterly earnings data 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 net margin of 13.05% and a return on equity of 15.95%. The company had revenue of $172.03 million during the quarter, compared to analyst estimates of $170.87 million. During the same period in the previous year, the firm earned $0.58 earnings per share. BlackLine's quarterly revenue 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. On average, equities research analysts anticipate that BlackLine will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackLine news, CAO Michelle D. Stalick sold 664 shares of the stock in a transaction 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 sale, the chief accounting officer owned 23,830 shares of the company's stock, valued at approximately $1,287,534.90. This trade represents a 2.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Unterman sold 910 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the sale, the director owned 42,745 shares of the company's stock, valued at $2,350,975. This trade represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,369 shares of company stock valued at $186,155. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackLine

A number of large investors have recently made changes to their positions in the stock. Hawk Ridge Capital Management LP raised its stake in BlackLine by 124.3% in the 1st quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company's stock worth $94,901,000 after acquiring an additional 1,086,185 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of BlackLine by 106.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company's stock valued at $57,443,000 after purchasing an additional 611,499 shares during the period. American Century Companies Inc. raised its stake in shares of BlackLine by 7.2% in the first quarter. American Century Companies Inc. now owns 961,341 shares of the technology company's stock worth $46,548,000 after purchasing an additional 64,676 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of BlackLine by 5.6% during the second quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company's stock worth $52,335,000 after purchasing an additional 49,292 shares during the period. Finally, Tensile Capital Management LP lifted its holdings in shares of BlackLine by 17.6% during the first quarter. Tensile Capital Management LP now owns 871,485 shares of the technology company's stock worth $42,197,000 after purchasing an additional 130,488 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.

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