BlackLine, Inc. (NASDAQ:BL) Given Average Rating of “Hold” by Analysts

Shares of BlackLine, Inc. (NASDAQ:BL) have been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $62.20.

A number of brokerages have issued reports on BL. JPMorgan Chase & Co. reduced their price objective on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. William Blair downgraded shares of BlackLine from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research note on Wednesday, February 14th. Citigroup reduced their price target on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price target on shares of BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a research note on Tuesday, January 23rd.

BlackLine Price Performance

NASDAQ:BL opened at $58.89 on Friday. BlackLine has a 52 week low of $47.26 and a 52 week high of $69.31. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -588.90, a P/E/G ratio of 10.92 and a beta of 0.86. The firm’s 50-day simple moving average is $62.04 and its 200 day simple moving average is $59.27. The company has a debt-to-equity ratio of 4.37, a quick ratio of 2.19 and a current ratio of 2.19.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. The firm had revenue of $155.73 million for the quarter, compared to the consensus estimate of $154.24 million. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. As a group, sell-side analysts predict that BlackLine will post 1.02 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $632,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 51,470 shares in the company, valued at approximately $3,088,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total transaction of $258,750.00. Following the sale, the director now owns 11,000 shares in the company, valued at $632,500. The disclosure for this sale can be found here. 9.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in BlackLine by 94.8% during the 4th quarter. CWM LLC now owns 452 shares of the technology company’s stock worth $28,000 after purchasing an additional 220 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of BlackLine in the 4th quarter valued at $38,000. Federated Hermes Inc. increased its stake in shares of BlackLine by 505.2% in the 3rd quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock valued at $51,000 after acquiring an additional 773 shares in the last quarter. Operose Advisors LLC increased its stake in shares of BlackLine by 291.2% in the 3rd quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock valued at $54,000 after acquiring an additional 728 shares in the last quarter. Finally, Cutler Group LLC CA bought a new stake in shares of BlackLine in the 3rd quarter valued at $74,000. Institutional investors own 95.13% of the company’s stock.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.