BlackLine (NASDAQ:BL) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of BlackLine (NASDAQ:BL) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

BL has been the subject of a number of other reports. Truist Financial reduced their price target on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Weiss Ratings lowered shares of BlackLine from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, July 13th. Citizens Jmp reaffirmed a “market outperform” rating and set a $70.00 price objective on shares of BlackLine in a research report on Tuesday, April 28th. Scotiabank cut shares of BlackLine to an “outperform” rating in a research note on Tuesday. Finally, DA Davidson set a $30.00 target price on BlackLine in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.83.

BlackLine Stock Up 4.7%

Shares of BL stock opened at $28.74 on Friday. BlackLine has a 12 month low of $24.70 and a 12 month high of $59.57. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 2.18. The firm has a market cap of $1.69 billion, a PE ratio of 66.84 and a beta of 0.66. The stock has a 50 day moving average of $28.65 and a 200-day moving average of $35.45.

BlackLine (NASDAQ:BL) last announced 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 net margin of 3.71% and a return on equity of 18.86%. The business had revenue of $183.16 million for the quarter, compared to the consensus estimate of $181.00 million. During the same quarter last year, the company posted $0.49 earnings per share. BlackLine’s quarterly revenue was up 9.7% on a year-over-year basis. 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, equities analysts predict that BlackLine will post 1.1 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gregory Hughes sold 1,637 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $30.25, for a total value of $49,519.25. Following the sale, the director owned 7,755 shares of the company’s stock, valued at $234,588.75. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Yamamoto sold 3,000 shares of BlackLine stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $28.48, for a total value of $85,440.00. Following the sale, the director directly owned 16,692 shares in the company, valued at $475,388.16. The trade was a 15.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.10% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackLine

Several hedge funds and other institutional investors have recently modified their holdings of BL. First Manhattan CO. LLC. raised its stake in BlackLine by 16.3% during the fourth quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock worth $134,278,000 after acquiring an additional 340,606 shares in the last quarter. Hawk Ridge Capital Management LP lifted its holdings in BlackLine by 26.3% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock valued at $69,960,000 after purchasing an additional 393,192 shares during the last quarter. Norges Bank bought a new position in BlackLine during the 4th quarter valued at about $80,787,000. Engaged Capital LLC boosted its position in BlackLine by 26.2% in the first quarter. Engaged Capital LLC now owns 1,367,619 shares of the technology company’s stock valued at $50,602,000 after buying an additional 284,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in BlackLine by 20.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company’s stock valued at $39,354,000 after buying an additional 181,577 shares in the last quarter. Institutional investors 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.