BlackLine (NASDAQ:BL) Shares Down 5.1% – What’s Next?

Shares of BlackLine (NASDAQ:BL) were down 5.1% on Thursday . The stock traded as low as $29.13 and last traded at $29.2750. Approximately 74,530 shares were traded during trading, a decline of 94% from the average daily volume of 1,236,297 shares. The stock had previously closed at $30.84.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BL shares. Piper Sandler raised their price objective on shares of BlackLine from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Citizens Jmp reissued a “market outperform” rating and set a $70.00 price objective on shares of BlackLine in a report on Tuesday, April 28th. Weiss Ratings downgraded shares of BlackLine from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 9th. Rosenblatt Securities reduced their price target on shares of BlackLine from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Finally, BMO Capital Markets raised their price target on shares of BlackLine from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, BlackLine has an average rating of “Hold” and an average target price of $43.67.

BlackLine Stock Performance

The stock has a market capitalization of $1.72 billion, a P/E ratio of 68.16 and a beta of 0.69. The company’s 50-day moving average is $33.18 and its two-hundred day moving average is $44.59. 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 data on Tuesday, May 5th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. The firm had revenue of $183.16 million for the quarter, compared to the consensus estimate of $181.00 million. BlackLine had a net margin of 3.71% and a return on equity of 18.86%. BlackLine’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.49 EPS. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. As a group, sell-side analysts anticipate that BlackLine will post 1.1 EPS for the current fiscal year.

Institutional Trading of BlackLine

Hedge funds have recently bought and sold shares of the company. First Manhattan CO. LLC. raised its position in shares of BlackLine by 16.3% during the 4th quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock worth $134,278,000 after buying an additional 340,606 shares in the last quarter. Hawk Ridge Capital Management LP raised its holdings in shares of BlackLine by 26.3% in the 1st quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock worth $69,960,000 after purchasing an additional 393,192 shares in the last quarter. Norges Bank bought a new stake in shares of BlackLine in the 4th quarter worth approximately $80,787,000. Engaged Capital LLC raised its holdings in shares of BlackLine by 26.2% in the 1st quarter. Engaged Capital LLC now owns 1,367,619 shares of the technology company’s stock worth $50,602,000 after purchasing an additional 284,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of BlackLine by 20.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,063,655 shares of the technology company’s stock worth $39,354,000 after purchasing an additional 181,577 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.