BlackLine, Inc. (NASDAQ:BL) Receives Average Recommendation of “Buy” from Analysts

BlackLine, Inc. (NASDAQ:BL) has received a consensus rating of “Buy” from the eleven analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $143.11.

Several analysts have weighed in on BL shares. TheStreet raised BlackLine from a “d+” rating to a “c” rating in a report on Tuesday, July 13th. Zacks Investment Research lowered BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, July 7th.

Shares of BlackLine stock traded down $0.37 during trading hours on Friday, hitting $123.99. 9,711 shares of the company were exchanged, compared to its average volume of 514,949. BlackLine has a 1 year low of $78.37 and a 1 year high of $154.61. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 3.21. The business has a 50-day moving average of $113.74 and a 200-day moving average of $111.40. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of -80.30 and a beta of 0.89.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Thursday, August 5th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. The firm had revenue of $102.12 million during the quarter, compared to analysts’ expectations of $100.99 million. BlackLine had a negative return on equity of 2.89% and a negative net margin of 23.25%. As a group, research analysts anticipate that BlackLine will post -0.58 earnings per share for the current fiscal year.

In other news, CFO Mark Partin sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $120.55, for a total value of $602,750.00. Following the transaction, the chief financial officer now directly owns 99,149 shares in the company, valued at approximately $11,952,411.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Therese Tucker sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 22nd. The shares were sold at an average price of $108.98, for a total value of $1,089,800.00. Following the sale, the insider now owns 161,183 shares in the company, valued at $17,565,723.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,983 shares of company stock worth $21,757,049. Company insiders own 10.07% of the company’s stock.

Several large investors have recently made changes to their positions in BL. Berman Capital Advisors LLC raised its holdings in shares of BlackLine by 242.6% during the 1st quarter. Berman Capital Advisors LLC now owns 233 shares of the technology company’s stock valued at $25,000 after buying an additional 165 shares during the period. Strategic Blueprint LLC acquired a new stake in BlackLine during the 2nd quarter valued at approximately $40,000. Ellevest Inc. grew its stake in BlackLine by 99.0% during the 1st quarter. Ellevest Inc. now owns 406 shares of the technology company’s stock valued at $44,000 after purchasing an additional 202 shares in the last quarter. Signaturefd LLC grew its stake in BlackLine by 11.9% during the 1st quarter. Signaturefd LLC now owns 827 shares of the technology company’s stock valued at $90,000 after purchasing an additional 88 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in BlackLine by 16.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 929 shares of the technology company’s stock valued at $103,000 after purchasing an additional 128 shares in the last quarter. Institutional investors and hedge funds own 96.50% of the company’s stock.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.

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Analyst Recommendations for BlackLine (NASDAQ:BL)

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