BlackLine’s (BL) Neutral Rating Reiterated at Robert W. Baird

Robert W. Baird reissued their neutral rating on shares of BlackLine (NASDAQ:BL) in a report issued on Friday morning, Marketbeat Ratings reports. The brokerage currently has a $55.00 price target on the technology company’s stock, down from their previous price target of $64.00.

Other equities analysts have also issued research reports about the stock. Morgan Stanley lifted their price target on shares of BlackLine from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of BlackLine in a research report on Thursday, September 11th. Citigroup restated a “market outperform” rating on shares of BlackLine in a report on Tuesday, October 28th. Zacks Research raised BlackLine from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BlackLine in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.50.

BlackLine Price Performance

BL stock opened at $53.58 on Friday. The stock’s 50 day moving average price is $53.37 and its 200 day moving average price is $53.79. The firm has a market cap of $3.32 billion, a P/E ratio of 48.27, a PEG ratio of 8.88 and a beta of 1.02. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.64 and a current ratio of 1.52. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25.

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

Insider Buying and Selling at BlackLine

In other BlackLine news, Director Thomas Unterman sold 910 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the sale, the director directly owned 41,835 shares of the company’s stock, valued at approximately $2,300,925. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the chief accounting officer owned 23,830 shares of the company’s stock, valued at approximately $1,287,534.90. The trade was a 2.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,394 shares of company stock valued at $186,026. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Synovus Financial Corp increased its stake in BlackLine by 9.3% during the 3rd quarter. Synovus Financial Corp now owns 19,862 shares of the technology company’s stock valued at $1,055,000 after buying an additional 1,689 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of BlackLine by 16.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 40,247 shares of the technology company’s stock valued at $2,137,000 after acquiring an additional 5,663 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of BlackLine by 15.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,198 shares of the technology company’s stock valued at $117,000 after acquiring an additional 301 shares during the period. Public Sector Pension Investment Board increased its stake in shares of BlackLine by 15.0% during the third quarter. Public Sector Pension Investment Board now owns 202,803 shares of the technology company’s stock valued at $10,769,000 after acquiring an additional 26,437 shares during the period. Finally, Rhumbline Advisers raised its holdings in BlackLine by 1.5% during the third quarter. Rhumbline Advisers now owns 146,480 shares of the technology company’s stock worth $7,778,000 after purchasing an additional 2,105 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

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.