BlackLine (NASDAQ:BL) Cut to “Underperform” at DA Davidson

DA Davidson cut shares of BlackLine (NASDAQ:BL) from a neutral rating to an underperform rating in a research report released on Monday morning, MarketBeat reports. The brokerage currently has $23.00 price target on the technology company’s stock, down from their previous price target of $30.00.

BL has been the subject of a number of other research reports. Robert W. Baird set a $35.00 target price on BlackLine in a research note on Wednesday, August 5th. Scotiabank lowered BlackLine to an “outperform” rating in a research report on Tuesday, July 21st. Weiss Ratings upgraded BlackLine from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of BlackLine in a research report on Wednesday, August 5th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $33.00 price objective (down from $50.00) on shares of BlackLine in a research note on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.50.

BlackLine Stock Performance

NASDAQ:BL opened at $26.54 on Monday. The firm’s fifty day simple moving average is $30.21 and its 200 day simple moving average is $30.61. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.12. BlackLine has a twelve month low of $24.70 and a twelve month high of $59.57. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 1.75 and a beta of 0.66.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The firm had revenue of $187.82 million during the quarter, compared to the consensus estimate of $186.99 million. During the same period in the prior year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. 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, equities research analysts expect that BlackLine will post 0.98 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Therese Tucker sold 70,000 shares of BlackLine stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.96, for a total transaction of $2,237,200.00. Following the sale, the director directly owned 381,557 shares of the company’s stock, valued at approximately $12,194,561.72. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michelle D. Stalick sold 780 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $33.65, for a total value of $26,247.00. Following the completion of the transaction, the chief accounting officer owned 34,712 shares in the company, valued at approximately $1,168,058.80. This trade represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackLine

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in BlackLine by 5.0% in the 1st quarter. Blue Trust Inc. now owns 7,516 shares of the technology company’s stock worth $278,000 after purchasing an additional 359 shares during the period. State of Wyoming raised its stake in BlackLine by 4.7% during the 1st quarter. State of Wyoming now owns 10,912 shares of the technology company’s stock valued at $404,000 after purchasing an additional 486 shares during the period. Cim Investment Management Inc. raised its stake in BlackLine by 7.4% during the 2nd quarter. Cim Investment Management Inc. now owns 12,525 shares of the technology company’s stock valued at $352,000 after purchasing an additional 865 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of BlackLine by 306.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,220 shares of the technology company’s stock valued at $67,000 after purchasing an additional 920 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of BlackLine by 12.0% in the first quarter. Pictet Asset Management Holding SA now owns 8,651 shares of the technology company’s stock valued at $320,000 after purchasing an additional 930 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

About BlackLine

BlackLine, Inc (NASDAQ: BL) provides cloud-based software designed to automate and modernize finance and accounting operations. Its platform helps organizations manage processes that traditionally rely on spreadsheets, manual data entry and disconnected systems, with an emphasis on improving efficiency, visibility and control.

The company’s products support financial close and consolidation, account reconciliations, transaction matching, intercompany accounting, accounts receivable automation, cash application, invoice-to-cash processes, lease accounting and accounting task management.