BlackLine

BL · NASDAQ

$31.23+$1.12 (+3.72%)TodayMarket closed · Oct 20, 5:21 PM ET

Prev close $30.11

BL analyst rating

HoldConsensus of 11 analysts over the last 12 months. 27% rate it a buy.

Strong buy0
Buy3
Hold6
Underperform2
Sell0

12-month price target · 13 analysts

Average $38.86 (+24.4% upside)

Low: $23.23
Now: $31.23
High: $73.50

Upgrades and downgrades

The latest rating actions, newest first

BL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
DA Davidson	Sep 28, 2026	Downgrade	Neutral → Underperform	$30.00 → $23.00	58%
Cantor Fitzgerald	Aug 5, 2026	Maintains	Neutral	$36.00	54%
Piper Sandler	Aug 5, 2026	Maintains	Neutral	$37.00 → $35.00	73%
Morgan Stanley	Jul 21, 2026	Downgrade	Overweight → Equal-Weight	$50.00 → $33.00	46%
B of A Securities	May 12, 2026	Initiates	Buy → Underperform	$26.00	70%
Citigroup	May 7, 2026	Maintains	Buy	$60.00 → $53.00	52%
Truist Securities	May 7, 2026	Maintains	Hold	$50.00 → $32.00	50%
Rosenblatt	May 6, 2026	Maintains	Buy	$46.00 → $45.00	48%
DA Davidson	May 6, 2026	Maintains	Neutral	$45.00 → $35.00	43%
Piper Sandler	May 6, 2026	Maintains	Neutral	$35.00 → $37.00	73%

The case for and against

Updated Oct 14, 2026

Bull case

BlackLine is benefiting from durable SaaS demand, with 1Q26 revenue of $183.2 million up 9.7% year over year, subscription revenue of $173.7 million, and non-GAAP operating margin expanding to 21.6% while EPS rose 14% to $0.56. Its outlook is strengthened by improving enterprise momentum, as RPO increased 17.9% to $1.1 billion, average new deal size jumped 85% to $162,000, and large customers generating $1+ million in ARR grew to 86. The company is also monetizing its platform more effectively through pricing adoption, SAP contribution at 26% of revenue, and rapid AI adoption, supporting raised FY26 revenue and margin guidance.

Bear case

BlackLine is facing a cautious fundamental setup because its 2Q26 revenue outlook of $186.0-$188.0 million and non-GAAP net income of $40.0-$42.0 million are only modestly ahead of prior estimates while still below consensus, signaling limited upside versus expectations. The bigger concern is profitability and growth quality: the non-GAAP operating margin midpoint of 21.5%-22.5% trails consensus at 23.9%, ARR growth has eased to 9%, cRPO growth has slipped to 12%, and customer count declined 3.5% to 4,301 despite a 1Q revenue beat helped by a $1 million nonrecurring benefit. With operating leverage under pressure, heightened macro and competitive risks, and foreign exchange volatility potentially weighing on a business that derives roughly a third of sales outside the U.S., the stock’s fundamentals support a negative outlook.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.