Rosenblatt Securities Cuts BlackLine (NASDAQ:BL) Price Target to $62.00

BlackLine (NASDAQ:BL) had its price objective dropped by Rosenblatt Securities from $65.00 to $62.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 32.17% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Citigroup restated a “market outperform” rating on shares of BlackLine in a research note on Tuesday, October 28th. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Robert W. Baird reissued a “neutral” rating and set a $55.00 price target (down from $64.00) on shares of BlackLine in a research report on Friday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of BlackLine in a report on Tuesday, December 16th. Finally, DA Davidson upgraded shares of BlackLine to a “hold” rating in a research note on Monday, November 10th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $59.83.

BlackLine Trading Down 9.5%

NASDAQ BL opened at $46.91 on Friday. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 42.26, a price-to-earnings-growth ratio of 9.84 and a beta of 0.86. The company’s fifty day moving average price is $55.89 and its two-hundred day moving average price is $54.34.

BlackLine (NASDAQ:BL) last released its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $178.29 million during the quarter, compared to the consensus estimate of $178.11 million. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. 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 predict that BlackLine will post 0.9 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 made changes to their positions in the business. Measured Wealth Private Client Group LLC bought a new stake in BlackLine during the 3rd quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in BlackLine in the second quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of BlackLine during the second quarter worth $33,000. Versant Capital Management Inc increased its stake in shares of BlackLine by 110.4% in the third quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock valued at $35,000 after buying an additional 350 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of BlackLine in the third quarter valued at $38,000. 95.13% of the stock is owned by institutional investors.

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.