Blackstone (NYSE:BX) Given New $139.00 Price Target at Oppenheimer

Blackstone (NYSE:BX) had its price target dropped by Oppenheimer from $156.00 to $139.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s price objective would indicate a potential upside of 9.13% from the stock’s current price.

Several other brokerages also recently issued reports on BX. Citizens Jmp cut their price objective on Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Evercore reiterated an “outperform” rating and set a $150.00 price target on shares of Blackstone in a research report on Tuesday, April 21st. Barclays lowered their price objective on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Finally, BMO Capital Markets upped their target price on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.52.

Blackstone Price Performance

NYSE:BX traded down $1.60 on Friday, reaching $127.37. The stock had a trading volume of 1,514,146 shares, compared to its average volume of 6,758,345. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $94.62 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58. Blackstone has a 1-year low of $101.73 and a 1-year high of $190.09. The stock has a fifty day moving average price of $119.85 and a 200-day moving average price of $125.90.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. Research analysts forecast that Blackstone will post 5.89 EPS for the current year.

Insider Buying and Selling

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. The trade was a 99.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have purchased 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blackstone

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Blackstone during the fourth quarter worth about $1,275,747,000. Capital Research Global Investors boosted its stake in Blackstone by 99.2% during the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock worth $983,690,000 after acquiring an additional 3,178,133 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Blackstone during the first quarter valued at approximately $164,597,000. Amundi raised its holdings in Blackstone by 85.6% in the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock worth $417,620,000 after purchasing an additional 1,249,269 shares during the period. Finally, Focus Partners Wealth boosted its position in shares of Blackstone by 476.1% during the fourth quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager’s stock worth $204,193,000 after purchasing an additional 1,094,307 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone expanded its AI and infrastructure strategy, helping support the bull case. The firm helped launch Ode with Anthropic, an AI services venture aimed at enterprise deployment, and also hired Ami Momaya to lead a new India infrastructure platform in Asia-Pacific. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
• Positive Sentiment: Multiple articles highlighted that Blackstone (BX) may be set up to beat earnings estimates again next week, citing its strong earnings-surprise history and earnings growth expectations. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Investor sentiment also looks supported by coverage pointing to Blackstone’s earnings and price momentum, plus its appeal as a dividend and infrastructure play tied to data centers and AI-related demand.
• Neutral Sentiment: JPMorgan cut its price target on Blackstone (BX) from $136 to $132 and kept a neutral rating. That is a modestly cautious signal, but the new target still sits above the current share price, so it may not be a major drag. Blackstone had its price target lowered by JPMorgan Chase & Co.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.