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

Wall Street Zen lowered shares of BlackLine (NASDAQ:BL) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Several other research analysts have also recently issued reports on BL. Robert W. Baird set a $40.00 target price on shares of BlackLine in a report on Wednesday, May 6th. Piper Sandler lifted their price target on shares of BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Scotiabank cut shares of BlackLine to an “outperform” rating in a research report on Tuesday, July 21st. DA Davidson set a $30.00 price objective on shares of BlackLine in a research note on Thursday, July 9th. Finally, Citigroup dropped 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. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, BlackLine presently has a consensus rating of “Hold” and an average target price of $41.83.

BlackLine Price Performance

Shares of NASDAQ BL opened at $30.66 on Friday. The stock’s 50-day simple moving average is $28.67 and its 200-day simple moving average is $35.14. The firm has a market capitalization of $1.80 billion, a PE ratio of 71.30 and a beta of 0.66. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.70 and a current ratio of 1.70.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The firm had revenue of $183.16 million during the quarter, compared to the consensus estimate of $181.00 million. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period 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. As a group, equities research analysts forecast that BlackLine will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mika Yamamoto sold 3,000 shares of the 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 represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Hughes sold 1,637 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $30.25, for a total value of $49,519.25. Following the sale, the director directly owned 7,755 shares of the company’s stock, valued at $234,588.75. The trade was a 17.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.10% of the company’s stock.

Institutional Trading of BlackLine

Hedge funds have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of BlackLine in the third quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of BlackLine during the 4th quarter worth $28,000. Bayforest Capital Ltd purchased a new stake in shares of BlackLine during the 4th quarter worth $40,000. Optiver Holding B.V. grew its stake in shares of BlackLine by 13,828.6% during the 1st quarter. Optiver Holding B.V. now owns 975 shares of the technology company’s stock worth $36,000 after purchasing an additional 968 shares during the period. Finally, Leonteq Securities AG grew its stake in shares of BlackLine by 1,019.6% during the 1st quarter. Leonteq Securities AG now owns 1,086 shares of the technology company’s stock worth $40,000 after purchasing an additional 989 shares during the period. Institutional investors and hedge funds 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.