BlackLine (NASDAQ:BL) Now Covered by Bank of America

Investment analysts at Bank of America assumed coverage on shares of BlackLine (NASDAQ:BL) in a note issued to investors on Tuesday. The firm set an “underperform” rating and a $26.00 price target on the technology company’s stock. Bank of America‘s target price would suggest a potential downside of 4.41% from the stock’s previous close.

BL has been the subject of a number of other reports. Citigroup reduced their price target on shares of BlackLine from $60.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Weiss Ratings lowered shares of BlackLine from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 9th. Truist Financial decreased their target price on BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a research report on Thursday. Citizens Jmp restated a “market outperform” rating and set a $70.00 price target on shares of BlackLine in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities reduced their price objective on BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, BlackLine presently has an average rating of “Hold” and a consensus target price of $43.67.

BlackLine Stock Performance

NASDAQ:BL traded down $0.30 during mid-day trading on Tuesday, hitting $27.20. 107,072 shares of the company’s stock traded hands, compared to its average volume of 1,192,139. The firm has a 50 day moving average of $34.39 and a two-hundred day moving average of $45.90. BlackLine has a 12 month low of $26.87 and a 12 month high of $59.57. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 63.21, a price-to-earnings-growth ratio of 2.15 and a beta of 0.69. 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 issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The company had revenue of $183.16 million for the quarter, compared to the consensus estimate of $181.00 million. During the same period in the previous year, the business posted $0.49 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. 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, equities analysts forecast that BlackLine will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackLine

Institutional investors and hedge funds have recently made changes to their positions in the company. First Manhattan CO. LLC. grew its holdings 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 purchasing an additional 340,606 shares during the last quarter. Norges Bank bought a new position in BlackLine during the 4th quarter valued at about $80,787,000. Engaged Capital LLC boosted its position 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 buying an additional 629,825 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 buying an additional 181,577 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. grew its stake in 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 buying an additional 100,000 shares during 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.