BlackLine, Inc. (NASDAQ:BL) Receives $58.78 Consensus PT from Analysts

BlackLine, Inc. (NASDAQ:BL) has received a consensus rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $58.78.

Several equities research analysts have commented on the stock. BTIG Research dropped their price target on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. William Blair raised shares of BlackLine to a “hold” rating in a research note on Tuesday, May 7th. BMO Capital Markets lifted their price target on shares of BlackLine from $65.00 to $67.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. JMP Securities reiterated a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research report on Monday, July 15th. Finally, Robert W. Baird decreased their target price on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th.

BlackLine Stock Performance

Shares of NASDAQ BL opened at $49.26 on Thursday. BlackLine has a 12-month low of $43.37 and a 12-month high of $69.31. The company has a market cap of $3.05 billion, a PE ratio of 214.17, a P/E/G ratio of 5.32 and a beta of 0.86. The stock has a 50 day simple moving average of $48.42 and a 200-day simple moving average of $54.63. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 4.08.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $160.51 million during the quarter, compared to the consensus estimate of $158.21 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.69) earnings per share. On average, equities research analysts forecast that BlackLine will post 1.1 EPS for the current year.

Insider Activity at BlackLine

In other BlackLine news, insider Jimmy C. Duan purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $47.73 per share, with a total value of $95,460.00. Following the acquisition, the insider now directly owns 50,360 shares of the company’s stock, valued at approximately $2,403,682.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Mark Partin sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $47.38, for a total transaction of $2,369,000.00. Following the completion of the sale, the chief financial officer now owns 229,341 shares in the company, valued at $10,866,176.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jimmy C. Duan purchased 2,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $47.73 per share, for a total transaction of $95,460.00. Following the purchase, the insider now directly owns 50,360 shares of the company’s stock, valued at $2,403,682.80. The disclosure for this purchase can be found here. Insiders sold 66,765 shares of company stock valued at $3,220,418 in the last ninety days. Insiders own 9.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of BlackLine by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after purchasing an additional 642,772 shares during the period. Brown Advisory Inc. lifted its stake in BlackLine by 2.5% in the fourth quarter. Brown Advisory Inc. now owns 1,899,804 shares of the technology company’s stock valued at $118,624,000 after buying an additional 45,950 shares during the period. Hawk Ridge Capital Management LP lifted its stake in BlackLine by 85.4% in the fourth quarter. Hawk Ridge Capital Management LP now owns 730,259 shares of the technology company’s stock valued at $45,597,000 after buying an additional 336,298 shares during the period. Dimensional Fund Advisors LP boosted its holdings in BlackLine by 65.4% during the second quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock worth $28,076,000 after buying an additional 229,151 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of BlackLine by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 448,171 shares of the technology company’s stock worth $27,984,000 after buying an additional 13,062 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.