BlackLine, Inc. (NASDAQ:BL) Receives $66.40 Consensus PT from Analysts

Shares of BlackLine, Inc. (NASDAQ:BL) have received an average recommendation of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $66.40.

BL has been the subject of a number of research reports. StockNews.com upgraded shares of BlackLine from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley boosted their target price on shares of BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. JMP Securities reiterated a “market outperform” rating and set a $86.00 target price on shares of BlackLine in a research note on Wednesday, January 15th. Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their target price for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Finally, BMO Capital Markets decreased their target price on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th.

Insider Activity

In related news, CRO Mark Woodhams sold 24,408 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total value of $1,569,922.56. Following the completion of the transaction, the executive now owns 72,920 shares of the company’s stock, valued at approximately $4,690,214.40. This represents a 25.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of BlackLine by 1.3% during the 3rd quarter. FMR LLC now owns 5,153,275 shares of the technology company’s stock valued at $284,152,000 after purchasing an additional 64,435 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in shares of BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock valued at $128,439,000 after purchasing an additional 354,784 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of BlackLine by 35.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock valued at $91,896,000 after purchasing an additional 435,271 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of BlackLine by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company’s stock valued at $70,704,000 after purchasing an additional 3,498 shares during the last quarter. Finally, Topline Capital Management LLC bought a new position in shares of BlackLine during the 4th quarter valued at about $60,572,000. Institutional investors own 95.13% of the company’s stock.

BlackLine Price Performance

Shares of NASDAQ BL opened at $49.96 on Thursday. BlackLine has a twelve month low of $43.37 and a twelve month high of $69.31. The firm has a market cap of $3.12 billion, a P/E ratio of 34.46, a PEG ratio of 10.94 and a beta of 0.92. The company has a 50 day moving average of $60.38 and a 200 day moving average of $56.93. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. As a group, research analysts expect that BlackLine will post 0.93 EPS for the current fiscal year.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.