Why BlackLine Stock Zoomed More Than 7% Higher Today

By Eric Volkman – Mar 17, 2026 at 6:50PM ESTKey PointsThe total authorized amount is now $500 million.The company has already spent more than half of this.BlackLine (BL +7.48%) stock was well in the black on Tuesday, and that's an understatement. News that it's devoting many millions of dollars to refreshing its stock buyback program excited market players, and they collectively bid the specialty tech company's shares up by over 7% that trading session. A $500 million commitment In a regulatory filing that morning, BlackLine disclosed that its board of directors authorized an increase to its existing share repurchase program. $100 million has been added to the existing authorization, bringing the total to $500 million. Image source: Getty Images. This matters because BlackLine has lately put its money where its mouth is. So far under the program, management has repurchased just over $270 million worth of its common stock. Such a strategy is sensible for these times. Like other software stocks, BlackLine has suffered notable declines in recent months as investors pivot out of such businesses on fears of disruption from artificial intelligence (AI). A boost in stock buybacks will hopefully provide some support and help draw investors back to BlackLine's equity. ExpandNASDAQ: BLBlackLineToday's Change(7.48%) $2.66Current Price$38.24Key Data PointsMarket Cap$2.1BDay's Range$36.56 - $38.4052wk Range$31.75 - $59.57Volume85KAvg Vol1.1MGross Margin75.21% Back to the fundamentals I don't personally feel that any investor should rush into a stock solely on the strength of a buyback program; generally speaking, if a business isn't doing well, even a generous repurchase scheme won't support the price in the long term. BlackLine is in better shape than its recent battering on the exchange might indicate, with a top-line figure that's still heading north. Profitability is a bit erratic, though, so to me there are more attractive bargains in the beaten-down software space just now. Read NextMay 5, 2023 •By Danny Vena, CPAWhy BlackLine Stock Rallied Friday MorningJul 28, 2022 •By Connor AllenBlackline 'Sweeps the Board' in Recent Awards -- How Will It Affect Financials?Feb 11, 2022 •By Rich SmithWhy BlackLine Stock Is in the Red TodayNov 9, 2021 •By Keithen DruryThis Software-as-a-Service Stock Makes Quarterly Accounting a Thing of the PastOct 20, 2021 •By Jamie LoukoWhy You Should Give BlackLine the Green LightFeb 20, 2021 •By Danny Vena, CPA2 Hot Software-as-a-Service Stocks to Buy NowAbout the AuthorEric Volkman is a contributing Motley Fool finance and stock market analyst. Previously, Eric was an equities analyst at European investment bank Raiffeisen Capital and Investment. He’s also been a freelance finance writer since 1995. He studied at Susquehanna University.TMFVolkmanStocks MentionedBlackLineNASDAQ: BL$38.19(+7.34%)+$2.61*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.