DA Davidson Brokers Lower Earnings Estimates for BlackLine

BlackLine, Inc. (NASDAQ:BL - Free Report) - Investment analysts at DA Davidson lowered their Q1 2025 EPS estimates for BlackLine in a research note issued on Tuesday, April 15th. DA Davidson analyst W. Jellison now forecasts that the technology company will post earnings per share of $0.14 for the quarter, down from their prior forecast of $0.15. DA Davidson has a "Buy" rating and a $55.00 price target on the stock. The consensus estimate for BlackLine's current full-year earnings is $0.90 per share. DA Davidson also issued estimates for BlackLine's FY2025 earnings at $0.76 EPS and FY2026 earnings at $0.69 EPS.

A number of other equities research analysts also recently issued reports on BL. JMP Securities reaffirmed a "market outperform" rating and issued a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. BMO Capital Markets dropped their price target on BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and upped their price objective for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. The Goldman Sachs Group cut their price target on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday. Finally, Piper Sandler decreased their price objective on shares of BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $61.00.

BlackLine Stock Down 0.4 %

BL traded down $0.18 during mid-day trading on Wednesday, reaching $44.44. 412,256 shares of the stock were exchanged, compared to its average volume of 806,481. The company has a 50 day moving average price of $48.13 and a two-hundred day moving average price of $56.04. The stock has a market capitalization of $2.80 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%.

Hedge Funds Weigh In On BlackLine

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BDF Gestion bought a new position in BlackLine in the first quarter valued at $1,937,000. Stanley Laman Group Ltd. boosted its holdings in shares of BlackLine by 6.0% in the 1st quarter. Stanley Laman Group Ltd. now owns 98,879 shares of the technology company's stock worth $4,788,000 after purchasing an additional 5,566 shares in the last quarter. Wesbanco Bank Inc. purchased a new position in shares of BlackLine in the 1st quarter worth about $1,065,000. Procyon Advisors LLC increased its position in shares of BlackLine by 21.6% during the 1st quarter. Procyon Advisors LLC now owns 7,834 shares of the technology company's stock valued at $379,000 after purchasing an additional 1,392 shares during the last quarter. Finally, NBC Securities Inc. raised its holdings in shares of BlackLine by 100,075.0% during the 1st quarter. NBC Securities Inc. now owns 8,014 shares of the technology company's stock valued at $388,000 after buying an additional 8,006 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Mark Woodhams sold 9,088 shares of the business's stock in a transaction on Friday, February 21st. The shares were 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. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by company insiders.

BlackLine Company Profile

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.