Rosenblatt Securities Begins Coverage on BlackLine (NASDAQ:BL)

Research analysts at Rosenblatt Securities started coverage on shares of BlackLine (NASDAQ:BL) in a research note issued on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $65.00 price target on the technology company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 10.66% from the company’s current price.

A number of other equities analysts have also weighed in on BL. Weiss Ratings reiterated a “hold (c-)” rating on shares of BlackLine in a research report on Monday, November 24th. Robert W. Baird restated a “neutral” rating and issued a $55.00 target price (down previously from $64.00) on shares of BlackLine in a research note on Friday, November 7th. Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Baird R W cut shares of BlackLine from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Finally, BMO Capital Markets reduced their price objective on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a research report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BlackLine has a consensus rating of “Hold” and a consensus price target of $61.23.

BlackLine Stock Performance

NASDAQ BL opened at $58.74 on Tuesday. The firm has a market cap of $3.49 billion, a P/E ratio of 52.92, a P/E/G ratio of 13.75 and a beta of 0.88. BlackLine has a 52-week low of $40.82 and a 52-week high of $66.25. The business’s 50-day moving average price is $53.93 and its 200 day moving average price is $54.43. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.03.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The firm had revenue of $178.29 million during the quarter, compared to the consensus estimate of $178.11 million. During the same period in the prior year, the business earned $0.60 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. On average, equities research analysts expect that BlackLine will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other BlackLine news, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the completion of the transaction, the director directly owned 41,835 shares in the company, valued at approximately $2,300,925. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.60% of the company’s stock.

Institutional Trading of BlackLine

Large investors have recently modified their holdings of the business. Measured Wealth Private Client Group LLC acquired a new position in shares of BlackLine during the 3rd quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of BlackLine in the second quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of BlackLine in the second quarter worth $33,000. Versant Capital Management Inc lifted its position in shares of BlackLine by 110.4% in the third quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock valued at $35,000 after acquiring an additional 350 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of BlackLine during the third quarter valued at $38,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

About BlackLine

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.