BlackLine, Inc. (NASDAQ:BL) Receives $58.78 Consensus Target Price from Analysts

by · The Markets Daily

Shares of BlackLine, Inc. (NASDAQ:BL – Get Free Report) have been given an average recommendation of “Hold” by the eleven ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $58.78.

BL has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. JMP Securities reissued a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a research note on Monday, July 15th. JPMorgan Chase & Co. decreased their price target on BlackLine from $50.00 to $47.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. BTIG Research cut their price objective on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Robert W. Baird reduced their target price on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th.

View Our Latest Stock Analysis on BL

BlackLine Stock Up 0.1 %

Shares of NASDAQ:BL opened at $51.98 on Monday. The company has a 50-day moving average price of $49.11 and a 200 day moving average price of $53.48. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. BlackLine has a 12 month low of $43.37 and a 12 month high of $69.31. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 226.00, a PEG ratio of 12.21 and a beta of 0.89.

BlackLine (NASDAQ:BL – Get Free Report) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The firm had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $158.21 million. During the same quarter in the previous year, the business earned ($0.69) EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that BlackLine will post 0.94 earnings per share for the current year.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 1,387 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total value of $71,707.90. Following the completion of the sale, the executive now owns 97,582 shares in the company, valued at approximately $5,044,989.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other BlackLine news, insider Karole Morgan-Prager sold 10,000 shares of BlackLine stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the transaction, the insider now owns 115,424 shares in the company, valued at $5,771,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Mark Woodhams sold 1,387 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the sale, the executive now directly owns 97,582 shares of the company’s stock, valued at $5,044,989.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,765 shares of company stock valued at $851,418. 9.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BL. Vanguard Group Inc. boosted its holdings in BlackLine by 9.5% in the first quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock worth $476,662,000 after acquiring an additional 642,772 shares in the last quarter. Hawk Ridge Capital Management LP grew its position in BlackLine by 85.4% during the 4th quarter. Hawk Ridge Capital Management LP now owns 730,259 shares of the technology company’s stock worth $45,597,000 after purchasing an additional 336,298 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in BlackLine by 65.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock valued at $28,076,000 after purchasing an additional 229,151 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of BlackLine by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 448,171 shares of the technology company’s stock worth $27,984,000 after buying an additional 13,062 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of BlackLine during the second quarter worth $15,128,000. Institutional investors own 95.13% of the company’s stock.

About BlackLine

(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.

Read More