Brokerages Set BlackLine (NASDAQ:BL) Price Target at $60.58

BlackLine (NASDAQ:BL) has been assigned a consensus rating of “Hold” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $61.5455.

Several research analysts have recently commented on BL shares. Raymond James Financial raised shares of BlackLine from a “market perform” rating to an “outperform” rating and set a $67.00 target price on the stock in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BlackLine in a report on Wednesday, October 8th. Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Morgan Stanley raised their target price on shares of BlackLine from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Finally, DA Davidson reissued a “neutral” rating and issued a $56.00 price objective on shares of BlackLine in a research note on Wednesday, August 6th.

BlackLine Trading Up 3.8%

Shares of BL stock opened at $54.56 on Tuesday. The firm has a 50 day moving average price of $52.83 and a two-hundred day moving average price of $53.01. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $3.38 billion, a PE ratio of 42.29, a price-to-earnings-growth ratio of 8.71 and a beta of 0.97. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25.

BlackLine (NASDAQ:BL) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $170.87 million. During the same period last year, the firm earned $0.58 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. As a group, analysts predict that BlackLine will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Michelle D. Stalick sold 664 shares of BlackLine stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $54.03, for a total value of $35,875.92. Following the transaction, the chief accounting officer directly owned 23,830 shares of the company’s stock, valued at $1,287,534.90. This trade represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas Unterman sold 910 shares of BlackLine stock in a transaction that occurred on Monday, September 22nd. 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 42,745 shares in the company, 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. Insiders sold 2,484 shares of company stock worth $135,976 over the last three months. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BL. Atlantic Union Bankshares Corp bought a new position in BlackLine in the second quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in BlackLine in the second quarter valued at approximately $33,000. Versant Capital Management Inc grew its stake in shares of BlackLine by 110.4% during the third quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock worth $35,000 after buying an additional 350 shares during the last quarter. CWM LLC grew its stake in shares of BlackLine by 117.3% during the third quarter. CWM LLC now owns 1,243 shares of the technology company’s stock worth $66,000 after buying an additional 671 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of BlackLine by 57.5% during the second quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock worth $70,000 after buying an additional 451 shares during the last quarter. 95.13% of the stock is owned by 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.