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

BlackLine, Inc. (NASDAQ:BLGet Free Report) has earned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $64.56.

Several research firms have weighed in on BL. JMP Securities reiterated a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research report on Wednesday, February 14th. Wolfe Research started coverage on BlackLine in a research report on Monday, March 18th. They set a “peer perform” rating on the stock. Piper Sandler upgraded BlackLine from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $55.00 to $62.00 in a research report on Tuesday, April 23rd. Citigroup dropped their target price on BlackLine from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Finally, BMO Capital Markets raised their price target on shares of BlackLine from $65.00 to $67.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th.

Read Our Latest Research Report on BlackLine

Insider Activity at BlackLine

In related news, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total value of $166,866.00. Following the completion of the sale, the executive now owns 104,682 shares in the company, valued at $6,071,556. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CRO Mark Woodhams sold 2,877 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total transaction of $166,866.00. Following the sale, the executive now directly owns 104,682 shares in the company, valued at $6,071,556. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Partin sold 50,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $47.38, for a total value of $2,369,000.00. Following the completion of the transaction, the chief financial officer now directly owns 229,341 shares of the company’s stock, valued at $10,866,176.58. The disclosure for this sale can be found here. Corporate insiders own 9.93% of the company’s stock.

Hedge Funds Weigh In On BlackLine

Hedge funds have recently modified their holdings of the stock. Meritage Group LP acquired a new stake in shares of BlackLine during the 3rd quarter worth about $59,530,000. Vanguard Group Inc. raised its stake in shares of BlackLine by 9.5% in the first quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after acquiring an additional 642,772 shares during the last quarter. UBS Group AG boosted its holdings in shares of BlackLine by 855.5% in the 3rd quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock worth $36,444,000 after acquiring an additional 588,245 shares in the last quarter. Hawk Ridge Capital Management LP bought a new stake in BlackLine during the 3rd quarter worth approximately $21,853,000. Finally, Norges Bank acquired a new stake in BlackLine during the 4th quarter valued at $16,927,000. 95.13% of the stock is owned by institutional investors and hedge funds.

BlackLine Trading Down 2.4 %

Shares of BL stock opened at $46.01 on Friday. BlackLine has a 1 year low of $45.63 and a 1 year high of $69.31. The firm has a market capitalization of $2.84 billion, a PE ratio of 200.04, a price-to-earnings-growth ratio of 5.51 and a beta of 0.86. The stock has a fifty day moving average of $57.26 and a two-hundred day moving average of $59.51. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.30 and a current ratio of 2.30.

BlackLine (NASDAQ:BLGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $157.46 million for the quarter, compared to analyst estimates of $155.05 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. As a group, research analysts expect that BlackLine will post 1.1 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.

Further Reading

Analyst Recommendations for BlackLine (NASDAQ:BL)

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