BlackLine (NASDAQ:BL) Given Consensus Rating of “Hold” by Brokerages

BlackLine (NASDAQ:BL) has received an average rating of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $61.2308.

BL has been the topic of a number of analyst reports. Citigroup restated a “market outperform” rating on shares of BlackLine in a research report on Tuesday, October 28th. DA Davidson raised BlackLine to a “hold” rating in a report on Monday, November 10th. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. BMO Capital Markets decreased their target price on BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a research report on Friday, November 7th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target (down previously from $64.00) on shares of BlackLine in a report on Friday, November 7th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Ensign Peak Advisors Inc boosted its holdings in BlackLine by 2,460.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 520,325 shares of the technology company’s stock worth $29,461,000 after buying an additional 500,000 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of BlackLine by 5,776.8% in the fourth quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock valued at $26,300,000 after acquiring an additional 467,571 shares in the last quarter. Norges Bank acquired a new stake in shares of BlackLine in the second quarter worth approximately $19,830,000. Balyasny Asset Management L.P. increased its position in shares of BlackLine by 720.9% during the third quarter. Balyasny Asset Management L.P. now owns 191,695 shares of the technology company’s stock worth $10,179,000 after purchasing an additional 168,344 shares in the last quarter. Finally, Ananym Capital Management LP increased its position in shares of BlackLine by 37.5% during the third quarter. Ananym Capital Management LP now owns 442,511 shares of the technology company’s stock worth $23,497,000 after purchasing an additional 120,590 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Price Performance

NASDAQ:BL opened at $51.82 on Thursday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.52 and a quick ratio of 1.52. The company has a 50 day moving average price of $56.02 and a 200-day moving average price of $54.39. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.25. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 46.68, a price-to-earnings-growth ratio of 10.10 and a beta of 0.86.

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

BlackLine Company Profile

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.