BlackLine, Inc. (NASDAQ:BL) has been given a consensus rating of “Hold” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $39.68.
BL has been the topic of a number of analyst reports. BidaskClub upgraded BlackLine from a “hold” rating to a “buy” rating in a research note on Saturday, March 3rd. Robert W. Baird reiterated a “buy” rating on shares of BlackLine in a research note on Friday, February 16th. KeyCorp reiterated a “buy” rating and set a $46.00 price objective on shares of BlackLine in a research note on Thursday, February 15th. SunTrust Banks lowered 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. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered BlackLine from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd.
BlackLine (BL) traded down $0.51 during trading hours on Friday, hitting $39.51. The company had a trading volume of 136,124 shares, compared to its average volume of 572,333. BlackLine has a 12 month low of $28.21 and a 12 month high of $45.19. The company has a market cap of $2,107.75, a price-to-earnings ratio of -54.08 and a beta of -1.51.
BlackLine (NASDAQ:BL) last released its quarterly earnings data 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. BlackLine had a negative return on equity of 6.53% and a negative net margin of 21.50%. The company had revenue of $50.23 million for the quarter, compared to analyst estimates of $47.69 million. During the same period in the previous year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. equities analysts forecast that BlackLine will post -0.28 EPS for the current fiscal year.
In other news, CEO Therese Tucker sold 340,000 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $40.75, for a total transaction of $13,855,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Chris Murphy sold 50,000 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $39.60, for a total value of $1,980,000.00. Following the transaction, the executive now owns 68,872 shares in the company, valued at $2,727,331.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,090,000 shares of company stock worth $125,860,000 over the last quarter. Corporate insiders own 22.35% of the company’s stock.
Several institutional investors have recently made changes to their positions in BL. Metropolitan Life Insurance Co. NY purchased a new stake in BlackLine during the 4th quarter valued at about $175,000. Wolverine Trading LLC purchased a new stake in BlackLine during the 3rd quarter valued at about $246,000. MetLife Investment Advisors LLC purchased a new stake in BlackLine during the 4th quarter valued at about $248,000. First Republic Investment Management Inc. purchased a new stake in BlackLine during the 3rd quarter valued at about $257,000. Finally, PEAK6 Investments L.P. purchased a new stake in BlackLine during the 3rd quarter valued at about $267,000. Hedge funds and other institutional investors own 79.54% of the company’s stock.
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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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