Shares of BlackLine, Inc. (NASDAQ:BL) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $41.75.
A number of equities analysts recently weighed in on BL shares. BidaskClub downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. KeyCorp reissued a “buy” rating and issued a $52.00 price target on shares of BlackLine in a report on Thursday, May 3rd. Zacks Investment Research raised shares of BlackLine from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, May 9th. ValuEngine raised shares of BlackLine from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, SunTrust Banks downgraded shares of BlackLine from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a report on Monday, March 19th. They noted that the move was a valuation call.
BlackLine traded up $1.02, hitting $44.45, during mid-day trading on Monday, according to Marketbeat Ratings. The company’s stock had a trading volume of 220,700 shares, compared to its average volume of 511,440. BlackLine has a twelve month low of $28.79 and a twelve month high of $50.31. The company has a market cap of $2.32 billion, a P/E ratio of -120.14 and a beta of -0.46.
BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Thursday, May 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.04. The firm had revenue of $51.30 million for the quarter, compared to the consensus estimate of $50.37 million. BlackLine had a negative net margin of 19.09% and a negative return on equity of 6.01%. The business’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. sell-side analysts anticipate that BlackLine will post -0.26 EPS for the current fiscal year.
In other news, CRO Chris Murphy sold 15,000 shares of the company’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $41.27, for a total transaction of $619,050.00. Following the sale, the executive now directly owns 33,872 shares in the company, valued at $1,397,897.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sumeru (Gp) L.L.C. Slta sold 3,500,000 shares of the company’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $40.05, for a total value of $140,175,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,590,000 shares of company stock worth $144,106,800. Company insiders own 18.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of BL. Alkeon Capital Management LLC bought a new position in shares of BlackLine in the first quarter worth approximately $27,447,000. Thrivent Financial for Lutherans purchased a new stake in BlackLine in the first quarter worth approximately $24,340,000. OppenheimerFunds Inc. boosted its stake in BlackLine by 134.5% in the first quarter. OppenheimerFunds Inc. now owns 1,035,291 shares of the technology company’s stock worth $40,595,000 after buying an additional 593,754 shares in the last quarter. BlackRock Inc. boosted its stake in BlackLine by 46.6% in the first quarter. BlackRock Inc. now owns 1,802,859 shares of the technology company’s stock worth $70,690,000 after buying an additional 572,862 shares in the last quarter. Finally, Baillie Gifford & Co. purchased a new stake in BlackLine in the first quarter worth approximately $15,503,000. Institutional investors own 79.26% of the company’s stock.
BlackLine Company Profile
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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