BlackLine, Inc. (NASDAQ:BL) Receives Consensus Rating of “Hold” from Analysts

BlackLine, Inc. (NASDAQ:BLGet Free Report) has received an average rating of “Hold” from the eleven brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $60.90.

A number of research analysts have weighed in on BL shares. Piper Sandler reduced their target price on BlackLine from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. JPMorgan Chase & Co. reduced their target price on BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Robert W. Baird decreased their price objective on shares of BlackLine from $65.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. The Goldman Sachs Group lifted their target price on shares of BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a research report on Tuesday, January 23rd. Finally, William Blair lowered shares of BlackLine from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th.

Read Our Latest Analysis on BlackLine

BlackLine Price Performance

BL opened at $63.29 on Monday. The firm has a market cap of $3.89 billion, a P/E ratio of -632.90, a PEG ratio of 11.25 and a beta of 0.85. The company has a debt-to-equity ratio of 4.37, a quick ratio of 2.19 and a current ratio of 2.19. BlackLine has a fifty-two week low of $47.26 and a fifty-two week high of $69.31. The firm has a 50-day moving average of $60.95 and a 200 day moving average of $58.06.

BlackLine (NASDAQ:BLGet Free Report) last released its earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. The business had revenue of $155.73 million during the quarter, compared to the consensus estimate of $154.24 million. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. On average, research analysts expect that BlackLine will post 1.02 EPS for the current year.

Insider Buying and Selling

In related news, Director Kevin B. Thompson sold 4,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $632,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Kevin B. Thompson sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total transaction of $258,750.00. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $632,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the transaction, the director now owns 51,470 shares of the company’s stock, valued at approximately $3,088,200. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $349,185 over the last ninety days. Company insiders own 9.93% of the company’s stock.

Hedge Funds Weigh In On BlackLine

A number of hedge funds have recently added to or reduced their stakes in BL. Vanguard Group Inc. lifted its stake in BlackLine by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,738,189 shares of the technology company’s stock valued at $420,733,000 after acquiring an additional 79,649 shares during the period. Brown Advisory Inc. boosted its holdings in BlackLine by 2.5% in the fourth quarter. Brown Advisory Inc. now owns 1,899,804 shares of the technology company’s stock worth $118,624,000 after purchasing an additional 45,950 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in BlackLine by 3.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,414,835 shares of the technology company’s stock worth $88,342,000 after purchasing an additional 47,420 shares during the period. Alliancebernstein L.P. raised its stake in BlackLine by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,298,929 shares of the technology company’s stock valued at $69,908,000 after buying an additional 13,731 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of BlackLine by 40.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,296,306 shares of the technology company’s stock valued at $87,203,000 after buying an additional 374,813 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also

Analyst Recommendations for BlackLine (NASDAQ:BL)

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