BlackLine (BL) Stock Forecast, Price & News

12 Wall Street analysts have issued "buy," "hold," and "sell" ratings for BlackLine in the last twelve months. There are currently 2 sell ratings, 7 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" BL shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BL, but not buy additional shares or sell existing shares.
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12 Wall Street analysts have issued 1-year target prices for BlackLine's stock. Their BL share price forecasts range from $47.00 to $81.00. On average, they anticipate the company's share price to reach $61.50 in the next year. This suggests a possible upside of 13.4% from the stock's current price.
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BlackLine's stock was trading at $67.27 on January 1st, 2023. Since then, BL shares have decreased by 19.4% and is now trading at $54.21.
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BlackLine saw a increase in short interest during the month of August. As of August 31st, there was short interest totaling 2,820,000 shares, an increase of 11.9% from the August 15th total of 2,520,000 shares. Based on an average trading volume of 641,800 shares, the short-interest ratio is presently 4.4 days. Currently, 5.7% of the company's stock are sold short.
View BlackLine's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, November 2nd 2023.
View our BL earnings forecast.

BlackLine, Inc. (NASDAQ:BL) issued its quarterly earnings results on Tuesday, August, 8th. The technology company reported ($0.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by $0.68. The technology company had revenue of $144.57 million for the quarter, compared to analyst estimates of $143.86 million. BlackLine had a negative net margin of 9.25% and a negative trailing twelve-month return on equity of 37.62%.

ETFs with the largest weight of BlackLine (NASDAQ:BL) stock in their portfolio include SPDR S&P Software & Services ETF (XSW) and Direxion Daily Cloud Computing Bull 2x (CLDL).Direxion Daily S&P Expanded Tech Software Sector Bull 2X Shares (SWAR).

BlackLine updated its FY 2023 earnings guidance on Tuesday, August, 8th. The company provided earnings per share (EPS) guidance of $1.45-$1.51 for the period, compared to the consensus earnings per share estimate of $1.27. The company issued revenue guidance of $586.00 million-$591.00 million, compared to the consensus revenue estimate of $591.24 million.

62 employees have rated BlackLine Chief Executive Officer Marc Huffman on Glassdoor.com. Marc Huffman has an approval rating of 90% among the company's employees. 85.0% of employees surveyed would recommend working at BlackLine to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other BlackLine investors own include Block (SQ), Walt Disney (DIS), Slack Technologies (WORK), NVIDIA (NVDA), Okta (OKTA), DocuSign (DOCU), Twilio (TWLO), Teladoc Health (TDOC), CrowdStrike (CRWD) and Zoom Video Communications (ZM).

(BL) raised $120 million in an initial public offering (IPO) on Friday, October 28th 2016. The company issued 8,600,000 shares at a price of $13.00-$15.00 per share. Goldman Sachs and J.P. Morgan served as the underwriters for the IPO and Pacific Crest Securities (a division of KeyBanc Capital Markets), Raymond James, William Blair and Baird were co-managers.

BlackLine trades on the NASDAQ under the ticker symbol "BL."

BlackLine's stock is owned by many different retail and institutional investors. Top institutional investors include Kayne Anderson Rudnick Investment Management LLC (3.57%), Riverbridge Partners LLC (3.48%), Brown Advisory Inc. (3.07%), Artisan Partners Limited Partnership (2.72%), Conestoga Capital Advisors LLC (2.33%) and Alliancebernstein L.P. (2.13%). Insiders that own company stock include Graham Smith, Marc Huffman, Mark Partin, Mark Woodhams, Mika Yamamoto, Owen Ryan, Peter Hirsch, Therese Tucker and Thomas Unterman.
View institutional ownership trends.

Shares of BL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of BL stock can currently be purchased for approximately $54.21.

BlackLine (NASDAQ:BL) has a market capitalization of $3.31 billion and generates $522.94 million in revenue each year. The technology company earns $-33,520,000.00 in net income (profit) each year or ($0.77) on an earnings per share basis.

The company employs 1,814 workers across the globe.

BlackLine's mailing address is 21300 Victory Boulevard 12th Floor, Woodland Hills CA, 91367. The official website for the company is www.blackline.com. The technology company can be reached via phone at (818) 223-9008 or via email at investors@blackline.com.