BlackLine (NASDAQ:BL) Downgraded by Baird R W to “Hold”

BlackLine (NASDAQ:BL) was downgraded by research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Morgan Stanley upped their target price on shares of BlackLine from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Citigroup reiterated a “market outperform” rating on shares of BlackLine in a research report on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of BlackLine in a research report on Wednesday, October 8th. Finally, Truist Financial upped their target price on BlackLine from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.50.

BlackLine Price Performance

Shares of NASDAQ BL opened at $53.58 on Friday. The stock’s 50-day simple moving average is $53.37 and its two-hundred day simple moving average is $53.67. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.25. The firm has a market capitalization of $3.32 billion, a P/E ratio of 48.27, a P/E/G ratio of 9.32 and a beta of 1.02. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61.

BlackLine (NASDAQ:BL) last announced its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. BlackLine had a net margin of 11.07% and a return on equity of 13.68%. The business had revenue of $178.29 million for the quarter, compared to the consensus estimate of $178.11 million. During the same period last year, the firm posted $0.60 earnings per share. BlackLine’s quarterly revenue was up 7.5% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS. Q4 2025 guidance at 0.580-0.610 EPS. As a group, equities analysts anticipate that BlackLine will post 0.9 EPS for the current fiscal year.

Insider Activity

In other BlackLine news, Director Thomas Unterman sold 910 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $55.00, for a total value of $50,050.00. Following the completion of the sale, the director owned 41,835 shares in the company, valued at approximately $2,300,925. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michelle D. Stalick sold 664 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $54.03, for a total transaction of $35,875.92. Following the completion of the transaction, the chief accounting officer owned 23,830 shares in the company, valued at $1,287,534.90. This represents a 2.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,394 shares of company stock valued at $186,026 over the last 90 days. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of BlackLine

A number of institutional investors have recently modified their holdings of BL. Yorktown Management & Research Co Inc bought a new position in BlackLine during the 2nd quarter valued at approximately $589,000. Geneva Capital Management LLC increased its stake in shares of BlackLine by 5.6% during the second quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company’s stock valued at $52,335,000 after buying an additional 49,292 shares during the period. Royal Bank of Canada raised its holdings in shares of BlackLine by 15.5% during the first quarter. Royal Bank of Canada now owns 311,247 shares of the technology company’s stock valued at $15,070,000 after acquiring an additional 41,653 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in BlackLine by 7.9% in the second quarter. Mutual of America Capital Management LLC now owns 126,407 shares of the technology company’s stock worth $7,157,000 after acquiring an additional 9,270 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in BlackLine by 36.3% in the second quarter. Public Employees Retirement System of Ohio now owns 105,889 shares of the technology company’s stock valued at $5,995,000 after acquiring an additional 28,196 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other 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.