Rosenblatt Securities Cuts BlackLine (NASDAQ:BL) Price Target to $45.00

BlackLine (NASDAQ:BL) had its price target trimmed by Rosenblatt Securities from $46.00 to $45.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research analysts have also recently weighed in on the company. Robert W. Baird set a $40.00 price objective on BlackLine in a research report on Wednesday. Weiss Ratings cut BlackLine from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 9th. Piper Sandler upped their price objective on BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday. BMO Capital Markets upped their price objective on BlackLine from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $70.00 price objective on shares of BlackLine in a research report on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.27.

BlackLine Stock Down 1.7%

BL stock opened at $30.63 on Wednesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.70 and a quick ratio of 1.47. The stock has a market capitalization of $1.83 billion, a P/E ratio of 71.23, a P/E/G ratio of 2.19 and a beta of 0.69. The business has a 50-day moving average of $34.59 and a 200-day moving average of $46.24. BlackLine has a fifty-two week low of $28.78 and a fifty-two week high of $59.57.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. The company had revenue of $183.16 million during the quarter, compared to analysts’ expectations of $181.00 million. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.BlackLine’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm 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. On average, sell-side analysts anticipate that BlackLine will post 1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. First Manhattan CO. LLC. grew its stake in BlackLine by 16.3% in the fourth quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock valued at $134,278,000 after purchasing an additional 340,606 shares in the last quarter. Norges Bank bought a new position in BlackLine in the fourth quarter valued at approximately $80,787,000. Engaged Capital LLC grew its stake in BlackLine by 138.8% in the fourth quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock valued at $59,913,000 after purchasing an additional 629,825 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in BlackLine by 20.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company’s stock valued at $39,354,000 after purchasing an additional 181,577 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. grew its stake in BlackLine by 16.9% in the third quarter. Schwartz Investment Counsel Inc. now owns 690,000 shares of the technology company’s stock valued at $36,639,000 after purchasing an additional 100,000 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

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.