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

BlackLine, Inc. (NASDAQ:BL) has earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $61.80.

A number of research firms have commented on BL. JMP Securities reaffirmed a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a report on Wednesday, February 14th. Citigroup lifted their price objective on BlackLine from $57.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Piper Sandler dropped their price objective on BlackLine from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. William Blair cut BlackLine from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Finally, Robert W. Baird decreased their target price on BlackLine from $65.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th.

BlackLine Trading Down 1.4 %

Shares of BL opened at $57.85 on Friday. The stock’s fifty day simple moving average is $62.19 and its 200-day simple moving average is $59.07. The firm has a market capitalization of $3.58 billion, a PE ratio of -578.50, a price-to-earnings-growth ratio of 10.60 and a beta of 0.86. BlackLine has a 12-month low of $47.26 and a 12-month high of $69.31. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.28. The firm had revenue of $155.73 million during the quarter, compared to analysts’ expectations of $154.24 million. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. As a group, research analysts predict that BlackLine will post 1.02 earnings per share for the current year.

Insider Transactions at BlackLine

In other BlackLine news, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction that occurred 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 $3,088,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $57.50, for a total value of $258,750.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $632,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Unterman sold 750 shares of the stock in a transaction dated Thursday, February 1st. The stock was 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 $3,088,200. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackLine

Several institutional investors have recently bought and sold shares of BL. American International Group Inc. increased its stake in BlackLine by 0.6% in the 4th quarter. American International Group Inc. now owns 28,323 shares of the technology company’s stock valued at $1,768,000 after buying an additional 173 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of BlackLine by 0.8% in the first quarter. Neuberger Berman Group LLC now owns 23,544 shares of the technology company’s stock valued at $1,724,000 after acquiring an additional 176 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of BlackLine by 3.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 6,236 shares of the technology company’s stock valued at $389,000 after acquiring an additional 189 shares during the last quarter. CWM LLC raised its holdings in BlackLine by 94.8% during the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock worth $28,000 after acquiring an additional 220 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in BlackLine by 1.6% during the third quarter. Arizona State Retirement System now owns 14,639 shares of the technology company’s stock valued at $812,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

About BlackLine

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.