BlackLine (NASDAQ:BL) Trading Down 11.4% – Here’s Why

BlackLine (NASDAQ:BL) was down 11.4% on Thursday . The company traded as low as $46.57 and last traded at $45.9150. Approximately 922,417 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 838,971 shares. The stock had previously closed at $51.82.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BL shares. Robert W. Baird reissued a “neutral” rating and set a $55.00 price objective (down from $64.00) on shares of BlackLine in a research report on Friday, November 7th. Cantor Fitzgerald restated a “neutral” rating on shares of BlackLine in a research report on Tuesday, December 16th. Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. BMO Capital Markets dropped their price target on BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a research note on Friday, November 7th. Finally, Rosenblatt Securities started coverage on shares of BlackLine in a report on Tuesday, December 2nd. They issued a “buy” rating and a $65.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.23.

BlackLine Stock Performance

The company has a market cap of $2.82 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 10.10 and a beta of 0.86. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.03. The firm has a fifty day simple moving average of $56.02 and a 200-day simple moving average of $54.39.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $178.29 million for the quarter, compared to analyst estimates of $178.11 million. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company 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. On average, research analysts forecast that BlackLine will post 0.9 EPS for the current fiscal year.

Institutional Trading of BlackLine

Several large investors have recently bought and sold shares of the company. Advantage Alpha Capital Partners LP lifted its holdings in shares of BlackLine by 9.9% during the 2nd quarter. Advantage Alpha Capital Partners LP now owns 82,601 shares of the technology company’s stock worth $4,677,000 after acquiring an additional 7,470 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in BlackLine in the 3rd quarter valued at $2,230,000. Marshall Wace LLP grew its holdings in BlackLine by 12.4% during the second quarter. Marshall Wace LLP now owns 340,177 shares of the technology company’s stock worth $19,261,000 after purchasing an additional 37,538 shares during the period. Schwartz Investment Counsel Inc. increased its stake in shares of BlackLine by 16.9% during the third quarter. Schwartz Investment Counsel Inc. now owns 690,000 shares of the technology company’s stock worth $36,639,000 after purchasing an additional 100,000 shares during the period. Finally, Segall Bryant & Hamill LLC raised its holdings in BlackLine by 10.4% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 304,460 shares of the technology company’s stock valued at $17,239,000 after acquiring an additional 28,562 shares in the last quarter. Institutional investors and hedge funds 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.