Equities researchers at Bank of America started coverage on shares of BlackLine (NASDAQ:BL – Get Free Report) in a report issued on Tuesday, Marketbeat.com reports. The firm set an “underperform” rating and a $26.00 price target on the technology company’s stock. Bank of America‘s price target suggests a potential upside of 3.05% from the company’s current price.
Several other research firms also recently issued reports on BL. Rosenblatt Securities dropped their price target on shares of BlackLine from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Robert W. Baird set a $40.00 price objective on shares of BlackLine in a research report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and set a $50.00 target price on shares of BlackLine in a research note on Wednesday, May 6th. Wall Street Zen raised BlackLine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley cut their price target on BlackLine from $68.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.67.
Check Out Our Latest Analysis on BL
BlackLine Price Performance
BlackLine (NASDAQ:BL – Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.45 by $0.11. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The business had revenue of $183.16 million for the quarter, compared to the consensus estimate of $181.00 million. During the same period last year, the business posted $0.49 EPS. The company’s revenue was up 9.7% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. On average, equities analysts anticipate that BlackLine will post 1.1 EPS for the current fiscal year.
Institutional Investors Weigh In On BlackLine
Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in BlackLine during the fourth quarter worth $80,787,000. Engaged Capital LLC increased its stake in BlackLine by 138.8% during the fourth quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock valued at $59,913,000 after purchasing an additional 629,825 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of BlackLine by 5,776.8% during the fourth quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock worth $26,300,000 after purchasing an additional 467,571 shares during the period. Potrero Capital Research LLC acquired a new stake in shares of BlackLine during the fourth quarter worth $20,488,000. Finally, First Manhattan CO. LLC. lifted its position in shares of BlackLine by 16.3% in the 4th quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock worth $134,278,000 after buying an additional 340,606 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.
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.
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