BlackLine (NASDAQ:BL) Price Target Cut to $57.00 by Analysts at BMO Capital Markets

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

BL has been the topic of several other research reports. Citigroup restated a “market outperform” rating on shares of BlackLine in a research note on Tuesday, October 28th. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 target price on shares of BlackLine in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of BlackLine in a research note on Wednesday, October 8th. Truist Financial increased their price objective on shares of BlackLine from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 target price on shares of BlackLine in a research report on Thursday, September 11th. Five research 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.50.

BlackLine Stock Down 5.7%

Shares of NASDAQ:BL traded down $3.24 during midday trading on Friday, reaching $53.58. 1,618,453 shares of the company were exchanged, compared to its average volume of 1,324,922. The firm has a market cap of $3.32 billion, a PE ratio of 48.27, a P/E/G ratio of 9.32 and a beta of 1.02. BlackLine has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The stock has a fifty day simple moving average of $53.37 and a two-hundred day simple moving average of $53.67. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61.

BlackLine (NASDAQ:BL) last announced its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The firm had revenue of $178.29 million during the quarter, compared to analyst estimates of $178.11 million. BlackLine had a net margin of 11.07% and a return on equity of 13.68%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS. Q4 2025 guidance at 0.580-0.610 EPS. As a group, sell-side analysts forecast that BlackLine will post 0.9 earnings per share for the current year.

Insider Activity

In related news, CAO Michelle D. Stalick sold 664 shares of BlackLine stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $54.03, for a total transaction of $35,875.92. Following the completion of the transaction, the chief accounting officer owned 23,830 shares in the company, valued at approximately $1,287,534.90. This trade represents a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas Unterman sold 910 shares of the business’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 in the company, 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. Insiders have sold a total of 3,394 shares of company stock worth $186,026 over the last 90 days. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp acquired a new position in shares of BlackLine during the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in BlackLine during the second quarter worth $33,000. Versant Capital Management Inc boosted its position in BlackLine by 110.4% during the third quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares during the period. Bessemer Group Inc. increased its holdings in shares of BlackLine by 22.9% in the third quarter. Bessemer Group Inc. now owns 989 shares of the technology company’s stock valued at $53,000 after purchasing an additional 184 shares during the last quarter. Finally, CWM LLC raised its position in shares of BlackLine by 117.3% in the third quarter. CWM LLC now owns 1,243 shares of the technology company’s stock valued at $66,000 after purchasing an additional 671 shares during the period. 95.13% of the stock is currently owned by institutional investors.

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.