BlackLine (NASDAQ:BL) Rating Lowered to Buy at Wall Street Zen

BlackLine (NASDAQ:BL) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also recently weighed in on BL. Bank of America assumed coverage on BlackLine in a research report on Tuesday, May 12th. They issued an “underperform” rating and a $26.00 price target for the company. BMO Capital Markets upped their price objective on shares of BlackLine from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, May 6th. Citigroup decreased their price objective on BlackLine from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Scotiabank lowered BlackLine to an “outperform” rating in a research note on Tuesday, July 21st. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $70.00 price target on shares of BlackLine in a research report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.83.

BlackLine Price Performance

BL opened at $28.74 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.70 and a quick ratio of 1.70. BlackLine has a 12 month low of $24.70 and a 12 month high of $59.57. The stock has a market capitalization of $1.69 billion, a P/E ratio of 66.84 and a beta of 0.66. The business has a 50 day simple moving average of $28.65 and a 200-day simple moving average of $35.32.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, topping 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 return on equity of 18.86% and a net margin of 3.71%.BlackLine’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory Hughes sold 1,637 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $30.25, for a total transaction of $49,519.25. Following the completion of the sale, the director owned 7,755 shares of the company’s stock, valued at approximately $234,588.75. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $28.48, for a total transaction of $85,440.00. Following the completion of the sale, the director owned 16,692 shares in the company, valued at approximately $475,388.16. This trade represents a 15.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BlackLine

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in BlackLine by 3.7% during the fourth quarter. Blue Trust Inc. now owns 7,157 shares of the technology company’s stock valued at $396,000 after buying an additional 256 shares in the last quarter. Two Sigma Securities LLC grew its position in shares of BlackLine by 4.7% in the 2nd quarter. Two Sigma Securities LLC now owns 6,664 shares of the technology company’s stock worth $377,000 after acquiring an additional 301 shares in the last quarter. Franklin Resources Inc. grew its position in shares of BlackLine by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 5,335 shares of the technology company’s stock worth $295,000 after acquiring an additional 319 shares in the last quarter. Boothbay Fund Management LLC increased its holdings in shares of BlackLine by 8.4% in the 4th quarter. Boothbay Fund Management LLC now owns 4,555 shares of the technology company’s stock valued at $252,000 after acquiring an additional 352 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of BlackLine in the 3rd quarter valued at approximately $25,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.