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 report sent to investors on Sunday.

A number of other research firms have also commented on BL. DA Davidson reduced their price target on shares of BlackLine from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target on shares of BlackLine in a research report on Wednesday, May 6th. Citizens Jmp restated a “market outperform” rating and issued a $70.00 price target on shares of BlackLine in a research report on Tuesday, April 28th. Robert W. Baird set a $40.00 price target on shares of BlackLine in a research report on Wednesday, May 6th. Finally, Citigroup reduced their price target on shares of BlackLine from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.67.

BlackLine Price Performance

NASDAQ:BL opened at $27.25 on Friday. The firm has a market cap of $1.60 billion, a PE ratio of 63.37 and a beta of 0.69. 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 company’s 50-day moving average price is $33.61 and its two-hundred day moving average price is $45.14.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The firm had revenue of $183.16 million for the quarter, compared to analyst estimates of $181.00 million. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. 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 anticipate that BlackLine will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackLine

A number of institutional investors have recently modified their holdings of the stock. Hawk Ridge Capital Management LP raised its stake in shares of BlackLine by 26.3% in the first quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock worth $69,960,000 after acquiring an additional 393,192 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of BlackLine by 196.2% in the first quarter. Quantinno Capital Management LP now owns 41,647 shares of the technology company’s stock worth $1,541,000 after acquiring an additional 27,586 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of BlackLine by 7.8% in the first quarter. Public Employees Retirement System of Ohio now owns 115,536 shares of the technology company’s stock worth $4,275,000 after acquiring an additional 8,359 shares during the last quarter. Keebeck Wealth Management raised its stake in shares of BlackLine by 13.5% in the first quarter. Keebeck Wealth Management now owns 8,664 shares of the technology company’s stock worth $321,000 after acquiring an additional 1,032 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of BlackLine in the first quarter worth about $17,335,000. 95.13% of the stock is owned by institutional investors.

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.