Shares of Blackline Inc (NASDAQ:BL) have been given an average rating of “Hold” by the eight research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $50.67.
Several research analysts have recently weighed in on the company. Goldman Sachs Group downgraded LATAM Airlines Group from a “neutral” rating to a “sell” rating and increased their price target for the stock from $9.20 to $9.30 in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd.
Shares of Blackline stock traded up $0.36 during midday trading on Friday, reaching $49.68. The company had a trading volume of 7,952 shares, compared to its average volume of 624,935. The stock’s fifty day moving average is $51.31. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -190.35 and a beta of 0.88. Blackline has a fifty-two week low of $34.01 and a fifty-two week high of $58.11.
Blackline (NASDAQ:BL) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.14. The company had revenue of $64.13 million for the quarter, compared to analyst estimates of $63.33 million. Blackline had a negative return on equity of 5.02% and a negative net margin of 12.15%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 earnings per share. Research analysts forecast that Blackline will post -0.29 earnings per share for the current fiscal year.
In other news, CFO Mark Partin sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $53.36, for a total transaction of $533,600.00. Following the completion of the transaction, the chief financial officer now owns 65,140 shares in the company, valued at approximately $3,475,870.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 29,500 shares of company stock valued at $1,510,695 in the last quarter. 15.77% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Icon Wealth Partners LLC purchased a new stake in Blackline during the 1st quarter worth about $34,000. Pier Capital LLC lifted its holdings in Blackline by 45.8% during the 1st quarter. Pier Capital LLC now owns 131,226 shares of the technology company’s stock worth $6,078,000 after purchasing an additional 41,247 shares in the last quarter. Comerica Bank lifted its holdings in Blackline by 40.1% during the 4th quarter. Comerica Bank now owns 27,311 shares of the technology company’s stock worth $1,202,000 after purchasing an additional 7,817 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Blackline by 3.8% during the 4th quarter. New York State Common Retirement Fund now owns 350,113 shares of the technology company’s stock worth $14,337,000 after purchasing an additional 12,931 shares in the last quarter. Finally, Chicago Capital LLC lifted its holdings in Blackline by 1.6% during the 1st quarter. Chicago Capital LLC now owns 582,907 shares of the technology company’s stock worth $27,000,000 after purchasing an additional 9,160 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.
Blackline Company Profile
BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.
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