BlackLine (NASDAQ:BL) Earns Buy Rating from Analysts at DA Davidson

DA Davidson assumed coverage on shares of BlackLine (NASDAQ:BL) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $58.00 target price on the technology company’s stock. DA Davidson also issued estimates for BlackLine’s Q1 2025 earnings at $0.15 EPS, FY2025 earnings at $0.83 EPS and FY2026 earnings at $0.87 EPS.

A number of other equities analysts have also recently issued reports on the stock. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. Citigroup cut their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Wednesday, February 12th. StockNews.com downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets decreased their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.64.

BlackLine Trading Down 6.8 %

NASDAQ BL opened at $46.08 on Tuesday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 31.78, a P/E/G ratio of 10.80 and a beta of 0.97. The business has a 50 day simple moving average of $53.12 and a 200 day simple moving average of $56.73. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. BlackLine has a one year low of $43.37 and a one year high of $69.09.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. Research analysts expect that BlackLine will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Mark Woodhams sold 9,088 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackLine

Hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of BlackLine during the 4th quarter valued at $31,000. Global Retirement Partners LLC grew its stake in shares of BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after buying an additional 449 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock worth $35,000 after buying an additional 414 shares during the period. GAMMA Investing LLC lifted its stake in shares of BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after acquiring an additional 185 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of BlackLine in the 4th quarter valued at about $50,000. Institutional investors own 95.13% of the company’s stock.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.