Brokerages Set BlackLine (NASDAQ:BL) Target Price at $61.23

Shares of BlackLine (NASDAQ:BL) have received a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $59.8333.

Several research firms have recently weighed in on BL. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price objective (down previously from $64.00) on shares of BlackLine in a report on Friday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of BlackLine in a research note on Tuesday, December 16th. Morgan Stanley increased their price objective on shares of BlackLine from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of BlackLine in a report on Monday, December 29th. Finally, Rosenblatt Securities reduced their target price on shares of BlackLine from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday.

BlackLine Trading Up 1.2%

Shares of NASDAQ BL opened at $47.02 on Thursday. The company’s fifty day moving average is $55.53 and its 200-day moving average is $54.22. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 42.36, a P/E/G ratio of 8.83 and a beta of 0.86. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.02. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.03.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $178.29 million during the quarter, compared to analysts’ expectations of $178.11 million. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. Equities research analysts predict that BlackLine will post 0.9 EPS for the current year.

Institutional Investors Weigh In On BlackLine

A number of hedge funds and other institutional investors have recently bought and sold shares of BL. Advantage Alpha Capital Partners LP raised its stake in shares of BlackLine by 9.9% during the 2nd quarter. Advantage Alpha Capital Partners LP now owns 82,601 shares of the technology company’s stock worth $4,677,000 after purchasing an additional 7,470 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in BlackLine during the third quarter worth $2,230,000. Gagnon Securities LLC raised its position in BlackLine by 10.6% during the third quarter. Gagnon Securities LLC now owns 278,919 shares of the technology company’s stock worth $14,811,000 after acquiring an additional 26,678 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in BlackLine during the third quarter worth $1,101,000. Finally, Marshall Wace LLP lifted its stake in BlackLine by 12.4% in the second quarter. Marshall Wace LLP now owns 340,177 shares of the technology company’s stock valued at $19,261,000 after acquiring an additional 37,538 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.