BlackLine (NASDAQ:BL) Upgraded at Piper Sandler

BlackLine (NASDAQ:BL) was upgraded by analysts at Piper Sandler to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Robert W. Baird reissued a “neutral” rating and set a $55.00 target price (down from $64.00) on shares of BlackLine in a report on Friday, November 7th. Rosenblatt Securities decreased their price objective on shares of BlackLine from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Citigroup reaffirmed a “market outperform” rating on shares of BlackLine in a report on Tuesday, October 28th. Finally, BMO Capital Markets decreased their price target on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a research note on Friday, November 7th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.83.

BlackLine Stock Performance

NASDAQ BL opened at $44.43 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.03. The firm’s fifty day moving average price is $55.27 and its two-hundred day moving average price is $54.13. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.02. The firm has a market capitalization of $2.64 billion, a P/E ratio of 40.03, a price-to-earnings-growth ratio of 8.93 and a beta of 0.86.

BlackLine (NASDAQ:BL) last issued its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. The company had revenue of $178.29 million for the quarter, compared to analysts’ expectations of $178.11 million. During the same period in the prior year, the firm earned $0.60 EPS. BlackLine’s quarterly revenue was up 7.5% compared to the same quarter last year. 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, research analysts anticipate that BlackLine will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ensign Peak Advisors Inc grew its position in BlackLine by 2,460.0% during the second quarter. Ensign Peak Advisors Inc now owns 520,325 shares of the technology company’s stock worth $29,461,000 after buying an additional 500,000 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in BlackLine by 5,776.8% in the 4th quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock valued at $26,300,000 after acquiring an additional 467,571 shares in the last quarter. Norges Bank bought a new stake in shares of BlackLine during the 2nd quarter valued at $19,830,000. Balyasny Asset Management L.P. grew its holdings in shares of BlackLine by 720.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 191,695 shares of the technology company’s stock worth $10,179,000 after purchasing an additional 168,344 shares in the last quarter. Finally, Ananym Capital Management LP increased its position in shares of BlackLine by 37.5% in the third quarter. Ananym Capital Management LP now owns 442,511 shares of the technology company’s stock worth $23,497,000 after purchasing an additional 120,590 shares during the period. 95.13% of the stock is owned by institutional investors.

BlackLine Company Profile

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.