BMO Capital Markets Cuts BlackLine (NASDAQ:BL) Price Target to $57.00

BlackLine (NASDAQ:BL) had its price target lowered by BMO Capital Markets from $63.00 to $57.00 in a report published on Friday, MarketBeat.com reports. The brokerage currently has a market perform rating on the technology company’s stock.

Several other research analysts have also weighed in on the stock. Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Morgan Stanley increased their target price on shares of BlackLine from $65.00 to $68.00 and gave the stock 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. Truist Financial boosted their price target on shares of BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Finally, Raymond James Financial upgraded shares of BlackLine from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research report on Tuesday, July 29th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.50.

BlackLine Stock Down 5.7%

Shares of BlackLine stock opened at $53.58 on Friday. The business has a fifty day simple moving average of $53.37 and a 200 day simple moving average of $53.79. The stock has a market cap of $3.32 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 8.88 and a beta of 1.02. 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 has a 12 month low of $40.82 and a 12 month high of $66.25.

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

Insider Transactions at BlackLine

In related news, CAO Michelle D. Stalick sold 664 shares of BlackLine 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 sale, the chief accounting officer owned 23,830 shares of the company’s stock, valued at approximately $1,287,534.90. This trade represents a 2.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Unterman sold 910 shares of the company’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 transaction, the director directly owned 41,835 shares of the company’s stock, valued at approximately $2,300,925. This trade represents a 2.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,394 shares of company stock worth $186,026. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of BlackLine

A number of institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in BlackLine by 2.8% during the first quarter. Principal Financial Group Inc. now owns 313,527 shares of the technology company’s stock worth $15,181,000 after purchasing an additional 8,496 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of BlackLine by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 571,054 shares of the technology company’s stock worth $27,650,000 after buying an additional 12,057 shares during the last quarter. Xponance Inc. grew its holdings in shares of BlackLine by 6.8% in the 1st quarter. Xponance Inc. now owns 4,422 shares of the technology company’s stock valued at $214,000 after acquiring an additional 280 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of BlackLine by 7.8% in the 1st quarter. New York State Common Retirement Fund now owns 159,076 shares of the technology company’s stock valued at $7,702,000 after acquiring an additional 11,549 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of BlackLine by 1.6% in the first quarter. Victory Capital Management Inc. now owns 17,967 shares of the technology company’s stock valued at $870,000 after acquiring an additional 285 shares during the last quarter. 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.