BlackLine, Inc. (NASDAQ:BL) Given Average Recommendation of “Hold” by Brokerages

by · The Markets Daily

Shares of BlackLine, Inc. (NASDAQ:BL – Get Free Report) have received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $61.20.

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price objective on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. BTIG Research cut their target price on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 price target on shares of BlackLine in a research report on Monday, July 15th. Robert W. Baird dropped their price objective on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial boosted their price objective on shares of BlackLine from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st.

Get Our Latest Stock Analysis on BlackLine

Insiders Place Their Bets

In other BlackLine news, Director Barbara Whye sold 5,378 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total transaction of $279,709.78. Following the sale, the director now owns 6,777 shares of the company’s stock, valued at approximately $352,471.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BlackLine news, Director Barbara Whye sold 5,378 shares of BlackLine stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $52.01, for a total transaction of $279,709.78. Following the completion of the sale, the director now owns 6,777 shares of the company’s stock, valued at approximately $352,471.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Partin sold 5,648 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $53.00, for a total value of $299,344.00. Following the completion of the transaction, the chief financial officer now directly owns 226,844 shares in the company, valued at $12,022,732. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,873 shares of company stock valued at $8,340,243. 9.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackLine

Institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of BlackLine in the 2nd quarter valued at about $32,000. EntryPoint Capital LLC acquired a new position in BlackLine in the first quarter valued at approximately $36,000. 1620 Investment Advisors Inc. purchased a new stake in BlackLine in the 2nd quarter worth approximately $64,000. Covestor Ltd grew its stake in shares of BlackLine by 31.9% during the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after purchasing an additional 337 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of BlackLine by 13.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock valued at $112,000 after purchasing an additional 266 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

BlackLine Trading Down 0.7 %

BL opened at $55.11 on Tuesday. BlackLine has a one year low of $43.37 and a one year high of $69.31. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 61.23, a P/E/G ratio of 13.56 and a beta of 0.90. The stock’s 50 day moving average price is $53.19 and its 200-day moving average price is $51.61.

BlackLine (NASDAQ:BL – Get Free Report) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $160.51 million during the quarter, compared to the consensus estimate of $158.21 million. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned ($0.69) earnings per share. On average, equities analysts forecast that BlackLine will post 0.96 EPS for the current year.

BlackLine Company Profile

(Get Free Report

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.

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