Citigroup Cuts BlackLine (NASDAQ:BL) Price Target to $60.00

BlackLine (NASDAQ:BL) had its price target trimmed by Citigroup from $70.00 to $60.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other equities analysts have also commented on the company. Cantor Fitzgerald reduced their price objective on BlackLine from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday. BMO Capital Markets reduced their price target on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a research report on Friday, November 7th. Morgan Stanley reissued an “overweight” rating and set a $68.00 price target on shares of BlackLine in a research note on Wednesday. Robert W. Baird set a $50.00 price objective on shares of BlackLine in a research note on Wednesday. Finally, Piper Sandler raised shares of BlackLine to a “hold” rating in a report on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BlackLine has a consensus rating of “Hold” and an average price target of $57.85.

BlackLine Price Performance

BL stock opened at $38.61 on Wednesday. The firm has a 50 day simple moving average of $52.80 and a two-hundred day simple moving average of $53.37. The stock has a market cap of $2.30 billion, a PE ratio of 96.53, a P/E/G ratio of 2.66 and a beta of 0.86. BlackLine has a one year low of $38.43 and a one year high of $59.57. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.47 and a quick ratio of 1.52.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. BlackLine had a net margin of 3.50% and a return on equity of 18.14%. The firm had revenue of $183.18 million for the quarter, compared to analysts’ expectations of $182.98 million. During the same quarter last year, the company posted $0.47 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. BlackLine has set its Q1 2026 guidance at 0.440-0.460 EPS and its FY 2026 guidance at 2.370-2.480 EPS. On average, analysts predict that BlackLine will post 0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackLine

Hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in shares of BlackLine during the fourth quarter worth about $28,000. PSquared Asset Management AG bought a new position in BlackLine during the 4th quarter valued at approximately $16,840,000. Soros Fund Management LLC bought a new position in BlackLine during the 4th quarter valued at approximately $4,147,000. Quadrant Capital Group LLC lifted its holdings in BlackLine by 130.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,386 shares of the technology company’s stock worth $132,000 after buying an additional 1,350 shares during the period. Finally, HRT Financial LP grew its position in shares of BlackLine by 292.5% in the 4th quarter. HRT Financial LP now owns 196,346 shares of the technology company’s stock worth $10,855,000 after buying an additional 146,316 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.