BlackLine (NASDAQ:BL) Stock Price Up 6.6% – Here’s Why

BlackLine (NASDAQ:BL) rose 6.6% on Tuesday . The company traded as high as $38.05 and last traded at $37.9210. Approximately 520,434 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,246,711 shares. The stock had previously closed at $35.58.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised BlackLine from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $68.00 price objective on shares of BlackLine in a report on Wednesday, February 11th. Cantor Fitzgerald lowered their price target on BlackLine from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Citigroup reduced their price objective on BlackLine from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Robert W. Baird set a $50.00 target price on BlackLine in a research report on Wednesday, February 11th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and a consensus price target of $56.00.

BlackLine Stock Up 5.8%

The stock has a market capitalization of $2.24 billion, a P/E ratio of 93.83, a PEG ratio of 2.67 and a beta of 0.91. The stock has a 50 day moving average price of $43.89 and a 200-day moving average price of $50.97. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.47 and a quick ratio of 1.47.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, February 10th. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $183.18 million during the quarter, compared to analysts’ expectations of $182.98 million. BlackLine had a return on equity of 18.14% and a net margin of 3.50%.BlackLine’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS. BlackLine has set its Q1 2026 guidance at 0.440-0.460 EPS and its FY 2026 guidance at 2.370-2.480 EPS. As a group, research analysts expect that BlackLine will post 0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in BlackLine in the 3rd quarter worth $25,000. Kestra Advisory Services LLC purchased a new stake in shares of BlackLine during the fourth quarter worth about $28,000. Versant Capital Management Inc boosted its holdings in shares of 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. Aster Capital Management DIFC Ltd bought a new stake in shares of BlackLine in the third quarter worth about $38,000. Finally, MAI Capital Management increased its holdings in BlackLine by 10,000.0% during the 3rd quarter. MAI Capital Management now owns 707 shares of the technology company’s stock valued at $38,000 after purchasing an additional 700 shares during the period. 95.13% of the stock is owned by hedge funds and other 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.