BlackLine (NASDAQ:BL) Upgraded by DA Davidson to Hold Rating

BlackLine (NASDAQ:BL) was upgraded by equities research analysts at DA Davidson to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages also recently weighed in on BL. Morgan Stanley raised their target price on BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Monday. Baird R W cut BlackLine from a “strong-buy” rating to a “hold” rating in a research report on Friday. Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of BlackLine in a research note on Thursday, September 11th. Finally, Robert W. Baird restated a “neutral” rating and set a $55.00 target price (down previously from $64.00) on shares of BlackLine in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.92.

BlackLine Trading Up 1.7%

Shares of BL stock opened at $54.47 on Monday. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25. The company has a market capitalization of $3.37 billion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 8.88 and a beta of 1.02. The firm has a 50 day moving average price of $53.37 and a two-hundred day moving average price of $53.84. The company has a quick ratio of 1.64, a current ratio of 1.52 and a debt-to-equity ratio of 2.03.

BlackLine (NASDAQ:BL) last announced its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The company had revenue of $178.29 million for the quarter, compared to analyst estimates of $178.11 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. 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, analysts predict that BlackLine will post 0.9 earnings per share for the current year.

Insider Activity

In other BlackLine news, Director Thomas Unterman sold 910 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $55.00, for a total value of $50,050.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michelle D. Stalick sold 664 shares of the business’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 value 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. The trade was a 2.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,394 shares of company stock worth $186,026. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of BlackLine

Hedge funds have recently added to or reduced their stakes in the stock. Hawk Ridge Capital Management LP grew its holdings in BlackLine by 124.3% during the first quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company’s stock valued at $94,901,000 after purchasing an additional 1,086,185 shares during the period. First Manhattan CO. LLC. lifted its position in shares of BlackLine by 408.7% during the 1st quarter. First Manhattan CO. LLC. now owns 815,975 shares of the technology company’s stock valued at $39,510,000 after buying an additional 655,565 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of BlackLine by 106.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company’s stock worth $57,443,000 after acquiring an additional 611,499 shares during the period. Nuveen LLC purchased a new stake in BlackLine in the 1st quarter worth about $25,194,000. Finally, Ensign Peak Advisors Inc raised its stake in BlackLine by 2,460.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 520,325 shares of the technology company’s stock valued at $29,461,000 after acquiring an additional 500,000 shares during the period. Institutional investors own 95.13% of the company’s stock.

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.