BlackLine (NASDAQ:BL) Trading Down 7.5% – Here’s Why
by Teresa Graham · The Cerbat GemBlackLine (NASDAQ:BL – Get Free Report) dropped 7.5% on Monday . The stock traded as low as $28.45 and last traded at $28.32. Approximately 220,610 shares were traded during trading, a decline of 81% from the average daily volume of 1,189,770 shares. The stock had previously closed at $30.63.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target on shares of BlackLine in a research report on Wednesday, May 6th. Morgan Stanley cut their price objective on BlackLine from $68.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Piper Sandler increased their target price on shares of BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. BMO Capital Markets raised their target price on shares of BlackLine from $34.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 6th. Finally, Truist Financial lowered their price target on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.27.
Get Our Latest Stock Analysis on BlackLine
BlackLine Price Performance
The firm has a market cap of $1.64 billion, a P/E ratio of 63.95, a PEG ratio of 2.15 and a beta of 0.69. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.70 and a quick ratio of 1.70. The stock’s 50-day simple moving average is $34.59 and its two-hundred day simple moving average is $46.24.
BlackLine (NASDAQ:BL – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. The firm had revenue of $183.16 million during the quarter, compared to analysts’ expectations of $181.00 million. During the same period in the previous year, the company earned $0.49 EPS. The firm’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. Equities research analysts forecast that BlackLine will post 1.04 earnings per share for the current fiscal year.
Hedge Funds Weigh In On BlackLine
Several hedge funds have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC bought a new stake in shares of BlackLine during the third quarter worth $25,000. Kestra Advisory Services LLC purchased a new position in BlackLine in the 4th quarter worth about $28,000. Versant Capital Management Inc increased its stake in BlackLine by 110.4% in 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 during the period. Aster Capital Management DIFC Ltd bought a new stake in BlackLine during the 3rd quarter valued at about $38,000. Finally, MAI Capital Management lifted its holdings in BlackLine by 10,000.0% during the 3rd quarter. MAI Capital Management now owns 707 shares of the technology company’s stock valued at $38,000 after buying an additional 700 shares in the last quarter. 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.