Blackline Inc (NASDAQ:BL) gapped down prior to trading on Wednesday . The stock had previously closed at $39.08, but opened at $40.00. Blackline shares last traded at $40.25, with a volume of 698058 shares.
A number of research firms have recently commented on BL. BidaskClub cut Blackline from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird reaffirmed a “buy” rating on shares of Blackline in a report on Friday, February 16th. KeyCorp reaffirmed a “buy” rating and set a $46.00 price target on shares of Blackline in a report on Thursday, February 15th. Zacks Investment Research downgraded Blackline from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Finally, JMP Securities raised Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $38.95.
The stock has a market capitalization of $2,323.21, a price-to-earnings ratio of -54.81 and a beta of -1.51.
Blackline (NASDAQ:BL) last announced its quarterly earnings results on Thursday, February 15th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. The firm had revenue of $50.23 million for the quarter, compared to the consensus estimate of $47.69 million. Blackline had a negative return on equity of 6.53% and a negative net margin of 21.50%. The company’s quarterly revenue was up 42.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. equities research analysts expect that Blackline Inc will post -0.28 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in Blackline by 20.3% in the third quarter. Rhumbline Advisers now owns 15,254 shares of the technology company’s stock valued at $520,000 after acquiring an additional 2,570 shares during the period. American International Group Inc. lifted its holdings in Blackline by 53.5% in the third quarter. American International Group Inc. now owns 10,455 shares of the technology company’s stock valued at $357,000 after acquiring an additional 3,646 shares during the period. Lisanti Capital Growth LLC lifted its holdings in Blackline by 33.1% in the fourth quarter. Lisanti Capital Growth LLC now owns 20,725 shares of the technology company’s stock valued at $680,000 after acquiring an additional 5,155 shares during the period. Metropolitan Life Insurance Co. NY bought a new position in Blackline in the fourth quarter valued at about $175,000. Finally, California State Teachers Retirement System lifted its holdings in Blackline by 28.8% in the third quarter. California State Teachers Retirement System now owns 24,995 shares of the technology company’s stock valued at $853,000 after acquiring an additional 5,595 shares during the period. 79.93% of the stock is currently owned by institutional investors.
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BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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