BlackLine (NASDAQ:BL) Stock Price Down 11.4% – Should You Sell?

BlackLine (NASDAQ:BL)’s stock price was down 11.4% on Thursday . The company traded as low as $46.57 and last traded at $45.9150. Approximately 922,417 shares traded hands during trading, an increase of 10% from the average daily volume of 838,971 shares. The stock had previously closed at $51.82.

Analyst Ratings Changes

A number of equities analysts have weighed in on BL shares. Zacks Research upgraded shares of BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price objective (down from $64.00) on shares of BlackLine in a research note on Friday, November 7th. Cantor Fitzgerald restated a “neutral” rating on shares of BlackLine in a research report on Tuesday, December 16th. BMO Capital Markets reduced their price target on BlackLine from $63.00 to $57.00 and set a “market perform” rating for the company in a research report on Friday, November 7th. Finally, Morgan Stanley increased their price objective on BlackLine from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, BlackLine presently has a consensus rating of “Hold” and an average target price of $61.23.

BlackLine Price Performance

The firm’s 50 day simple moving average is $56.02 and its two-hundred day simple moving average is $54.39. The firm has a market capitalization of $2.82 billion, a P/E ratio of 42.91, a P/E/G ratio of 10.10 and a beta of 0.86. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.52 and a quick ratio of 1.52.

BlackLine (NASDAQ:BL) last released its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $178.29 million during the quarter, compared to analyst estimates of $178.11 million. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.BlackLine’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. As a group, analysts predict that BlackLine will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On BlackLine

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC bought a new stake in BlackLine during the third quarter worth about $25,000. Atlantic Union Bankshares Corp purchased a new stake in BlackLine in the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of BlackLine in the 2nd quarter worth about $33,000. Versant Capital Management Inc boosted its stake in shares of BlackLine by 110.4% during the 3rd 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. Finally, Aster Capital Management DIFC Ltd bought a new stake in BlackLine during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.