BlackLine (NASDAQ:BL) Price Target Raised to $37.00

BlackLine (NASDAQ:BL) had its price objective boosted by Piper Sandler from $35.00 to $37.00 in a research note published on Wednesday morning, Marketbeat reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $70.00 price target on shares of BlackLine in a report on Tuesday, April 28th. Morgan Stanley cut their price objective on shares of BlackLine from $68.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of BlackLine in a research report on Wednesday, February 11th. Robert W. Baird set a $50.00 target price on shares of BlackLine in a report on Wednesday, February 11th. Finally, Citigroup dropped their target price on shares of BlackLine from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, BlackLine has a consensus rating of “Hold” and a consensus target price of $45.27.

BlackLine Stock Performance

NASDAQ:BL opened at $30.63 on Wednesday. BlackLine has a 12 month low of $28.78 and a 12 month high of $59.57. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.70 and a quick ratio of 1.47. The firm has a market capitalization of $1.83 billion, a PE ratio of 71.23, a price-to-earnings-growth ratio of 2.19 and a beta of 0.69. The business’s fifty day moving average price is $34.59 and its 200 day moving average price is $46.24.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $181.00 million. During the same period in the prior year, the firm posted $0.49 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. 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, sell-side analysts anticipate that BlackLine will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BL. Federated Hermes Inc. boosted its stake in shares of BlackLine by 228.3% during the third quarter. Federated Hermes Inc. now owns 134,524 shares of the technology company’s stock worth $7,143,000 after buying an additional 93,544 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in shares of BlackLine during the third quarter worth about $2,230,000. Ananym Capital Management LP increased its position in BlackLine by 37.5% in the 3rd quarter. Ananym Capital Management LP now owns 442,511 shares of the technology company’s stock valued at $23,497,000 after acquiring an additional 120,590 shares during the period. Gagnon Securities LLC raised its stake in BlackLine by 10.6% during the 3rd quarter. Gagnon Securities LLC now owns 278,919 shares of the technology company’s stock valued at $14,811,000 after acquiring an additional 26,678 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in BlackLine during the 3rd quarter valued at approximately $1,101,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

About BlackLine

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.