BlackLine, Inc. (NASDAQ:BL) has earned a consensus rating of “Hold” from the ten analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $39.68.
BL has been the topic of a number of analyst reports. JPMorgan Chase downgraded shares of BlackLine from a “neutral” rating to an “underweight” rating and set a $27.00 target price on the stock. in a research note on Thursday, January 25th. BidaskClub downgraded shares of BlackLine from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. Robert W. Baird reaffirmed a “buy” rating on shares of BlackLine in a research note on Friday, February 16th. KeyCorp reaffirmed a “buy” rating and set a $46.00 target price on shares of BlackLine in a research note on Thursday, February 15th. Finally, SunTrust Banks downgraded shares of BlackLine from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research note on Monday, March 19th. They noted that the move was a valuation call.
In other BlackLine news, CEO Therese Tucker sold 340,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $40.75, for a total transaction of $13,855,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners, L.P sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $40.75, for a total transaction of $81,500,000.00. The disclosure for this sale can be found here. Insiders sold 3,090,000 shares of company stock valued at $125,860,000 in the last 90 days. Company insiders own 18.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DF Dent & Co. Inc. grew its holdings in BlackLine by 21.3% during the 3rd quarter. DF Dent & Co. Inc. now owns 2,270,403 shares of the technology company’s stock worth $77,466,000 after acquiring an additional 399,130 shares in the last quarter. BlackRock Inc. grew its holdings in BlackLine by 27.4% during the 4th quarter. BlackRock Inc. now owns 1,229,997 shares of the technology company’s stock worth $40,344,000 after acquiring an additional 264,731 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in BlackLine by 15.6% during the 4th quarter. TimesSquare Capital Management LLC now owns 896,725 shares of the technology company’s stock worth $29,413,000 after acquiring an additional 120,895 shares in the last quarter. Wells Fargo & Company MN grew its holdings in BlackLine by 61.7% during the 3rd quarter. Wells Fargo & Company MN now owns 859,886 shares of the technology company’s stock worth $29,339,000 after acquiring an additional 328,004 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its holdings in BlackLine by 27.1% during the 4th quarter. Conestoga Capital Advisors LLC now owns 810,030 shares of the technology company’s stock worth $26,569,000 after acquiring an additional 172,855 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.
BL traded down $0.11 on Wednesday, reaching $41.25. 336,919 shares of the company’s stock were exchanged, compared to its average volume of 559,875. The firm has a market capitalization of $2,166.46, a PE ratio of -111.49 and a beta of -0.41. BlackLine has a twelve month low of $28.79 and a twelve month high of $45.19.
BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. The firm had revenue of $50.23 million for the quarter, compared to analyst estimates of $47.69 million. BlackLine had a negative net margin of 21.50% and a negative return on equity of 6.53%. BlackLine’s quarterly revenue was up 42.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share. equities analysts anticipate that BlackLine will post -0.28 EPS for the current year.
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BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.
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