BlackLine (NASDAQ:BL) Trading 8.8% Higher – Still a Buy?

Shares of BlackLine (NASDAQ:BL) traded up 8.8% on Monday . The stock traded as high as $29.41 and last traded at $29.6590. 370,630 shares traded hands during trading, a decline of 69% from the average session volume of 1,207,374 shares. The stock had previously closed at $27.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America assumed coverage on shares of BlackLine in a research report on Tuesday, May 12th. They issued an “underperform” rating and a $26.00 price target on the stock. Rosenblatt Securities dropped 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. DA Davidson dropped their target price on shares of BlackLine from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Citizens Jmp reissued a “market outperform” rating and issued a $70.00 price target on shares of BlackLine in a report on Tuesday, April 28th. Finally, Truist Financial reduced their target price on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.67.

BlackLine Price Performance

The stock has a market capitalization of $1.77 billion, a P/E ratio of 69.91 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. The company has a fifty day simple moving average of $33.61 and a two-hundred day simple moving average of $45.14.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. BlackLine had a return on equity of 18.86% and a net margin of 3.71%.The business had revenue of $183.16 million during the quarter, compared to analysts’ expectations of $181.00 million. During the same period in the prior year, the business earned $0.49 EPS. BlackLine’s revenue for the quarter was up 9.7% compared to the same quarter last year. BlackLine has set its FY 2026 guidance at 2.420-2.530 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Sell-side analysts expect that BlackLine will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackLine

A number of institutional investors have recently added to or reduced their stakes in BL. Norges Bank bought a new position in BlackLine in the 4th quarter worth about $80,787,000. Engaged Capital LLC increased its stake in BlackLine by 138.8% in the 4th quarter. Engaged Capital LLC now owns 1,083,619 shares of the technology company’s stock worth $59,913,000 after acquiring an additional 629,825 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of BlackLine during the 1st quarter valued at about $17,335,000. Teacher Retirement System of Texas increased its position in shares of BlackLine by 5,776.8% during the 4th quarter. Teacher Retirement System of Texas now owns 475,665 shares of the technology company’s stock valued at $26,300,000 after purchasing an additional 467,571 shares during the last quarter. Finally, Hawk Ridge Capital Management LP increased its position in shares of BlackLine by 26.3% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,890,823 shares of the technology company’s stock valued at $69,960,000 after purchasing an additional 393,192 shares during 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.