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

Shares of BlackLine, Inc. (NASDAQ:BL) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $66.40.

A number of research firms have weighed in on BL. Truist Financial reduced their price target on BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, February 12th. Citigroup decreased their target price on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Piper Sandler cut their price target on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, JMP Securities reissued a “market outperform” rating and set a $86.00 price target on shares of BlackLine in a research report on Wednesday, January 15th.

BlackLine Stock Down 1.7 %

NASDAQ:BL opened at $51.37 on Thursday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 9.14 and a beta of 0.92. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42. The stock has a 50-day moving average price of $60.91 and a two-hundred day moving average price of $56.93. BlackLine has a 1 year low of $43.37 and a 1 year high of $69.31.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 31.02% and a net margin of 19.83%. As a group, equities analysts expect that BlackLine will post 1 earnings per share for the current year.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 24,408 shares of the company’s stock in a transaction dated 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 transaction, the executive now owns 72,920 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. 9.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackLine

Several hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC grew its stake in shares of BlackLine by 2.5% in the fourth quarter. HighTower Advisors LLC now owns 6,475 shares of the technology company’s stock valued at $393,000 after acquiring an additional 161 shares in the last quarter. GAMMA Investing LLC boosted its holdings in BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after purchasing an additional 185 shares during the period. Arizona State Retirement System grew its position in shares of BlackLine by 1.3% during the 4th quarter. Arizona State Retirement System now owns 15,322 shares of the technology company’s stock worth $931,000 after purchasing an additional 192 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of BlackLine by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company’s stock worth $1,525,000 after purchasing an additional 200 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of BlackLine by 19.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock valued at $77,000 after buying an additional 209 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.