BlackLine (NASDAQ:BL) Now Covered by Analysts at Rosenblatt Securities

Investment analysts at Rosenblatt Securities assumed coverage on shares of BlackLine (NASDAQ:BL) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $65.00 price target on the technology company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 15.89% from the company’s previous close.

BL has been the topic of several other research reports. Citigroup restated a “market outperform” rating on shares of BlackLine in a report on Tuesday, October 28th. BMO Capital Markets dropped their target price on BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a report on Friday, November 7th. Morgan Stanley boosted their price target on BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target (down from $64.00) on shares of BlackLine in a research report on Friday, November 7th. Finally, Truist Financial lifted their price objective on BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.23.

BlackLine Stock Performance

BL opened at $56.09 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.03. The stock’s 50 day moving average price is $53.77 and its two-hundred day moving average price is $54.39. The firm has a market capitalization of $3.34 billion, a P/E ratio of 50.53, a price-to-earnings-growth ratio of 13.56 and a beta of 0.88. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $178.11 million. During the same period in the prior year, the business earned $0.60 earnings per share. BlackLine’s revenue for the quarter 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. On average, equities analysts forecast that BlackLine will post 0.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas Unterman sold 910 shares of the business’s stock in a transaction that occurred on 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 transaction, the director owned 41,835 shares in the company, valued at $2,300,925. The trade was a 2.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of BlackLine by 22.9% during the third quarter. Bessemer Group Inc. now owns 989 shares of the technology company’s stock valued at $53,000 after acquiring an additional 184 shares during the period. Amalgamated Bank lifted its position in BlackLine by 1.3% during the 3rd quarter. Amalgamated Bank now owns 15,143 shares of the technology company’s stock valued at $804,000 after purchasing an additional 191 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of BlackLine by 9.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,618 shares of the technology company’s stock valued at $148,000 after purchasing an additional 225 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of BlackLine by 3.8% in the 3rd quarter. Blue Trust Inc. now owns 6,901 shares of the technology company’s stock valued at $366,000 after purchasing an additional 250 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of BlackLine by 14.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 2,383 shares of the technology company’s stock worth $127,000 after buying an additional 294 shares during the period. Institutional investors own 95.13% of the company’s stock.

About BlackLine

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.