DA Davidson Lowers BlackLine (NASDAQ:BL) Price Target to $55.00

BlackLine (NASDAQ:BL - Get Free Report) had its target price decreased by stock analysts at DA Davidson from $58.00 to $55.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. DA Davidson's price target indicates a potential upside of 23.76% from the company's current price. DA Davidson also issued estimates for BlackLine's Q1 2025 earnings at $0.14 EPS, FY2025 earnings at $0.76 EPS and FY2026 earnings at $0.69 EPS.

Several other research firms also recently weighed in on BL. Truist Financial dropped their price target on BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. BMO Capital Markets cut their price target on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. JMP Securities restated a "market outperform" rating and set a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. Piper Sandler cut their price objective on shares of BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 12th. Finally, Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and boosted their target price for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, BlackLine currently has a consensus rating of "Hold" and an average target price of $61.00.

BlackLine Stock Down 0.4 %

NASDAQ BL traded down $0.18 during trading on Monday, reaching $44.44. 412,256 shares of the company's stock traded hands, compared to its average volume of 806,481. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The company's 50 day simple moving average is $48.13 and its two-hundred day simple moving average is $56.04. BlackLine has a 12-month low of $40.82 and a 12-month high of $66.25. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. As a group, sell-side analysts forecast that BlackLine will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Mark Woodhams sold 9,088 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BL. Conestoga Capital Advisors LLC increased its position in shares of BlackLine by 20.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after acquiring an additional 354,784 shares during the period. JPMorgan Chase & Co. increased its holdings in BlackLine by 35.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after purchasing an additional 435,271 shares during the period. Geode Capital Management LLC raised its position in BlackLine by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock valued at $70,704,000 after purchasing an additional 3,498 shares in the last quarter. Topline Capital Management LLC purchased a new position in shares of BlackLine in the 4th quarter valued at about $60,572,000. Finally, American Century Companies Inc. increased its stake in shares of BlackLine by 12,538.0% during the fourth quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock worth $54,481,000 after buying an additional 889,570 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.