BlackLine (NASDAQ:BL) Trading Up 9.7% – Here’s Why

BlackLine (NASDAQ:BL) rose 9.7% on Thursday . The company traded as high as $30.54 and last traded at $31.1630. Approximately 895,202 shares were traded during mid-day trading, a decline of 28% from the average session volume of 1,244,391 shares. The stock had previously closed at $28.42.

Analyst Ratings Changes

BL has been the topic of several recent research reports. BMO Capital Markets lifted their price target on BlackLine from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $35.00 target price on BlackLine in a research report on Wednesday, August 5th. Piper Sandler cut their target price on BlackLine from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Rosenblatt Securities decreased their price target on shares of BlackLine from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price objective on shares of BlackLine in a research report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, BlackLine has an average rating of “Hold” and an average target price of $40.08.

BlackLine Stock Up 9.6%

The company has a debt-to-equity ratio of 2.12, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a 50-day moving average of $29.03 and a 200 day moving average of $33.17. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 54.57, a PEG ratio of 1.86 and a beta of 0.64.

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 company had revenue of $187.82 million during the quarter, compared to the consensus estimate of $186.99 million. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. 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, sell-side analysts forecast that BlackLine will post 0.98 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mika Yamamoto sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $28.48, for a total transaction of $85,440.00. Following the completion of the sale, the director owned 16,692 shares in the company, valued at approximately $475,388.16. This trade represents a 15.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory Hughes sold 1,637 shares of the business’s 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 sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackLine

A number of hedge funds have recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. lifted its position in BlackLine by 16.3% during the fourth quarter. First Manhattan CO. LLC. now owns 2,428,604 shares of the technology company’s stock worth $134,278,000 after purchasing an additional 340,606 shares during the period. Hawk Ridge Capital Management LP raised its position in BlackLine by 26.3% during the first 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 in the last quarter. Norges Bank bought a new stake in BlackLine during the fourth quarter worth $80,787,000. Engaged Capital LLC lifted its stake in BlackLine by 26.2% during the first 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 valued at $39,354,000 after purchasing an additional 181,577 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

BlackLine Company Profile

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.