Bank of America Begins Coverage on BlackLine (NASDAQ:BL)

Equities researchers at Bank of America started coverage on shares of BlackLine (NASDAQ:BL) in a report released on Tuesday. The firm set an “underperform” rating and a $26.00 price target on the technology company’s stock. Bank of America‘s target price indicates a potential downside of 4.41% from the company’s previous close.

A number of other research analysts have also issued reports on BL. Wall Street Zen raised shares of BlackLine from a “buy” rating to a “strong-buy” rating in a research note on Saturday. BMO Capital Markets lifted their price target on BlackLine from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, May 6th. Citigroup reduced their price objective on BlackLine from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. DA Davidson decreased their price objective on BlackLine from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Finally, Morgan Stanley lowered their target price on BlackLine from $68.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, BlackLine has an average rating of “Hold” and a consensus price target of $43.67.

BlackLine Stock Performance

Shares of NASDAQ:BL traded down $0.30 during trading on Tuesday, hitting $27.20. 107,072 shares of the company traded hands, compared to its average volume of 1,192,139. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 2.18. The business’s fifty day moving average is $34.39 and its 200-day moving average is $45.90. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 63.21, a PEG ratio of 2.15 and a beta of 0.69. BlackLine has a one year low of $26.87 and a one year high of $59.57.

BlackLine (NASDAQ:BL) last released its quarterly earnings data 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. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The business had revenue of $183.16 million during the quarter, compared to analyst estimates of $181.00 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. 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 analysts predict that BlackLine will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackLine

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in BlackLine by 22.9% during the 3rd quarter. Bessemer Group Inc. now owns 989 shares of the technology company’s stock valued at $53,000 after purchasing an additional 184 shares during the period. Amalgamated Bank raised its position in BlackLine by 1.3% during the third quarter. Amalgamated Bank now owns 15,143 shares of the technology company’s stock valued at $804,000 after buying an additional 191 shares during the period. Blue Trust Inc. boosted its position in BlackLine by 3.7% during the 4th quarter. Blue Trust Inc. now owns 7,157 shares of the technology company’s stock worth $396,000 after acquiring an additional 256 shares during the period. PNC Financial Services Group Inc. grew its stake in BlackLine by 15.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,198 shares of the technology company’s stock valued at $117,000 after acquiring an additional 301 shares in the last quarter. Finally, Two Sigma Securities LLC increased its holdings in shares of BlackLine by 4.7% in the 2nd quarter. Two Sigma Securities LLC now owns 6,664 shares of the technology company’s stock valued at $377,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.