Piper Sandler Upgrades BlackLine (NASDAQ:BL) to Hold

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

BL has been the topic of several other research reports. Morgan Stanley raised their target price on BlackLine from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Rosenblatt Securities dropped their price target on shares of BlackLine from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Citigroup restated a “market outperform” rating on shares of BlackLine in a research report on Tuesday, October 28th. DA Davidson upgraded shares of BlackLine to a “hold” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BlackLine in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.83.

BlackLine Trading Down 5.5%

Shares of NASDAQ:BL opened at $44.43 on Monday. BlackLine has a 52 week low of $40.82 and a 52 week high of $66.02. The company’s 50 day moving average is $55.27 and its two-hundred day moving average is $54.13. The company has a market cap of $2.64 billion, a PE ratio of 40.03, a P/E/G ratio of 8.93 and a beta of 0.86. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.03.

BlackLine (NASDAQ:BL) last issued its earnings results on Thursday, November 6th. The technology company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. Equities analysts predict that BlackLine will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackLine

Several large investors have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC bought a new stake in shares of BlackLine during the third quarter valued at about $25,000. Atlantic Union Bankshares Corp bought a new position in BlackLine in the 2nd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in BlackLine during the 2nd quarter valued at about $33,000. Versant Capital Management Inc raised its position in shares of BlackLine by 110.4% during the 3rd quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock worth $35,000 after buying an additional 350 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of BlackLine during the 3rd quarter worth about $38,000. Institutional investors 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.