Piper Sandler Cuts BlackLine (NASDAQ:BL) Price Target to $35.00

BlackLine (NASDAQ:BL) had its price objective trimmed by Piper Sandler from $37.00 to $35.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial lowered their target price on shares of BlackLine from $50.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. Scotiabank lowered BlackLine to an “outperform” rating in a report on Tuesday, July 21st. DA Davidson set a $30.00 price target on BlackLine in a research report on Thursday, July 9th. Wall Street Zen lowered BlackLine from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $33.00 target price (down from $50.00) on shares of BlackLine in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, BlackLine presently has an average rating of “Hold” and a consensus price target of $40.08.

BlackLine Trading Down 1.5%

Shares of BL opened at $29.55 on Wednesday. The business has a 50-day moving average of $29.12 and a 200 day moving average of $33.80. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The firm has a market cap of $1.72 billion, a P/E ratio of 51.84, a price-to-earnings-growth ratio of 1.80 and a beta of 0.64. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.70 and a current ratio of 1.72.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $187.82 million for the quarter, compared to the consensus estimate of $186.99 million. BlackLine had a net margin of 4.75% and a return on equity of 20.89%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. As a group, research analysts forecast that BlackLine will post 1.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Gregory Hughes sold 1,637 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $30.25, for a total value of $49,519.25. Following the completion of the transaction, the director owned 7,755 shares of the company’s stock, valued at approximately $234,588.75. This represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Yamamoto sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $28.48, for a total value of $85,440.00. Following the completion of the transaction, the director owned 16,692 shares of the company’s stock, valued at approximately $475,388.16. The trade was a 15.23% decrease in their position. The SEC filing for this sale provides additional information. 9.10% of the stock is currently owned by company insiders.

Institutional Trading of BlackLine

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Measured Wealth Private Client Group LLC bought a new stake in BlackLine during the third quarter worth about $25,000. Kestra Advisory Services LLC purchased a new stake in shares of BlackLine in the 4th quarter worth approximately $28,000. Optiver Holding B.V. grew its stake in shares of BlackLine by 13,828.6% in the 1st quarter. Optiver Holding B.V. now owns 975 shares of the technology company’s stock worth $36,000 after buying an additional 968 shares during the last quarter. Bayforest Capital Ltd bought a new position in BlackLine during the 4th quarter valued at approximately $40,000. Finally, Leonteq Securities AG increased its position in BlackLine by 1,019.6% during the 1st quarter. Leonteq Securities AG now owns 1,086 shares of the technology company’s stock valued at $40,000 after buying an additional 989 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other 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.