BlackLine (NASDAQ:BL) Shares Up 8.8% – Time to Buy?

BlackLine (NASDAQ:BL)’s share price rose 8.8% during trading on Monday . The stock traded as high as $29.41 and last traded at $29.6590. Approximately 370,630 shares were traded during trading, a decline of 69% from the average daily volume of 1,207,374 shares. The stock had previously closed at $27.25.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Rosenblatt Securities dropped their target price on BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective on shares of BlackLine in a report on Wednesday, May 6th. DA Davidson dropped 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. Truist Financial dropped their price objective on BlackLine from $50.00 to $32.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Finally, Cantor Fitzgerald lowered their target price on BlackLine from $58.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $43.67.

BlackLine Trading Up 10.4%

The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 69.91 and a beta of 0.69. The company has a fifty day moving average price of $33.61 and a 200-day moving average price of $45.14. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 2.18.

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

Hedge Funds Weigh In On BlackLine

Several hedge funds and other institutional investors have recently made changes to their positions in BL. First Manhattan CO. LLC. increased its stake in shares of BlackLine by 16.3% in the 4th quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock worth $134,278,000 after acquiring an additional 340,606 shares during the last quarter. Hawk Ridge Capital Management LP increased its holdings in shares of BlackLine by 26.3% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock worth $69,960,000 after buying an additional 393,192 shares during the last quarter. Norges Bank acquired a new stake in shares of BlackLine during the 4th quarter worth approximately $80,787,000. Engaged Capital LLC increased its stake in BlackLine by 26.2% during the first quarter. Engaged Capital LLC now owns 1,367,619 shares of the technology company’s stock worth $50,602,000 after acquiring an additional 284,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in BlackLine by 20.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company’s stock worth $39,354,000 after acquiring an additional 181,577 shares during the last quarter. Hedge funds and other institutional investors 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.