Shares of Blackline Inc (NASDAQ:BL) have been given a consensus recommendation of “Buy” by the ten ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $37.93.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Blackline from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. KeyCorp reissued a “buy” rating and issued a $46.00 price objective on shares of Blackline in a research note on Thursday, February 15th. JMP Securities raised shares of Blackline from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 16th. Robert W. Baird reissued a “buy” rating on shares of Blackline in a research note on Friday, February 16th. Finally, Zacks Investment Research cut shares of Blackline from a “hold” rating to a “sell” rating in a research note on Thursday.
Shares of Blackline (NASDAQ:BL) traded down $0.12 during trading hours on Tuesday, hitting $40.19. 635,968 shares of the stock traded hands, compared to its average volume of 496,877. Blackline has a 52 week low of $26.72 and a 52 week high of $41.47.
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, topping the consensus estimate of ($0.09) by $0.12. The company had revenue of $50.23 million during the quarter, compared to the consensus estimate of $47.69 million. Blackline had a negative net margin of 21.50% and a negative return on equity of 6.55%. The company’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. research analysts predict that Blackline will post -0.29 EPS for the current fiscal year.
In other Blackline news, Director William J.G. Griffith sold 1,415,519 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $34.07, for a total transaction of $48,226,732.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mario Spanicciati sold 12,750 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $35.87, for a total transaction of $457,342.50. The disclosure for this sale can be found here. In the last three months, insiders sold 4,525,500 shares of company stock worth $154,259,010. 22.35% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Pier Capital LLC boosted its position in Blackline by 42.5% during the fourth quarter. Pier Capital LLC now owns 223,790 shares of the technology company’s stock valued at $7,340,000 after acquiring an additional 66,740 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Blackline during the fourth quarter valued at $248,000. Metropolitan Life Insurance Co. NY bought a new stake in Blackline during the fourth quarter valued at $175,000. Flinton Capital Management LLC bought a new stake in Blackline during the fourth quarter valued at $615,000. Finally, Meadow Creek Investment Management LLC bought a new stake in Blackline during the fourth quarter valued at $846,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.
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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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