BlackLine (NASDAQ:BL) Stock Rating Cut to Underperform at DA Davidson

DA Davidson downgraded shares of BlackLine (NASDAQ:BL) from a neutral rating to an underperform rating in a report released on Monday morning, MarketBeat.com reports. DA Davidson currently has $23.00 price objective on the technology company’s stock, down from their prior price objective of $30.00.

Several other research firms have also issued reports on BL. Piper Sandler lowered their price objective on BlackLine from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Wall Street Zen downgraded BlackLine from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Morgan Stanley restated an “equal weight” rating and set a $33.00 price target (down from $50.00) on shares of BlackLine in a report on Tuesday, July 21st. Robert W. Baird set a $35.00 price target on BlackLine in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded BlackLine from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.50.

BlackLine Stock Down 5.1%

Shares of NASDAQ BL opened at $26.56 on Monday. The firm’s 50-day moving average price is $30.29 and its 200-day moving average price is $30.75. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 46.60, a P/E/G ratio of 1.86 and a beta of 0.66. BlackLine has a 12-month low of $24.70 and a 12-month high of $59.57.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $187.82 million during the quarter, compared to the consensus estimate of $186.99 million. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. On average, equities research analysts anticipate that BlackLine will post 0.98 EPS for the current fiscal year.

Insider Transactions at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 780 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $33.65, for a total transaction of $26,247.00. Following the completion of the transaction, the chief accounting officer owned 34,712 shares in the company, valued at $1,168,058.80. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Therese Tucker sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $31.96, for a total value of $2,237,200.00. Following the transaction, the director owned 381,557 shares of the company’s stock, valued at $12,194,561.72. This trade represents a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently modified their holdings of BL. Squarepoint Ops LLC bought a new position in BlackLine in the 2nd quarter valued at $1,538,000. AXQ Capital LP purchased a new stake in BlackLine in the second quarter worth $325,000. Empowered Funds LLC bought a new stake in shares of BlackLine during the second quarter worth $220,000. Public Employees Retirement System of Ohio bought a new stake in shares of BlackLine during the second quarter worth $1,576,000. Finally, Bank of America Corp DE bought a new stake in shares of BlackLine during the second quarter worth $27,532,000. 95.13% of the stock is owned by institutional investors.

Key BlackLine News

Here are the key news stories impacting BlackLine this week:

• Positive Sentiment: BlackLine completed its acquisition of NetNow, adding digital credit applications, customer onboarding, credit-risk assessment and ongoing monitoring to its Invoice-to-Cash platform. The deal expands BlackLine’s workflow beyond invoice processing and could help customers make better credit decisions before extending payment terms. Financial terms were not disclosed. BlackLine Acquires NetNow

BlackLine Company Profile

BlackLine, Inc (NASDAQ: BL) provides cloud-based software designed to automate and modernize finance and accounting operations. Its platform helps organizations manage processes that traditionally rely on spreadsheets, manual data entry and disconnected systems, with an emphasis on improving efficiency, visibility and control.

The company’s products support financial close and consolidation, account reconciliations, transaction matching, intercompany accounting, accounts receivable automation, cash application, invoice-to-cash processes, lease accounting and accounting task management.