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

BlackLine, Inc. (NASDAQ:BL) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $66.40.

BL has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $86.00 target price on shares of BlackLine in a research report on Wednesday, January 15th. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. BMO Capital Markets dropped 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 report on Wednesday, February 12th. Piper Sandler dropped their target price on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Wednesday, February 12th. Finally, Citigroup dropped 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.

BlackLine Stock Performance

BlackLine stock opened at $49.89 on Monday. BlackLine has a 12-month low of $43.37 and a 12-month high of $69.09. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The firm’s fifty day moving average price is $55.68 and its 200 day moving average price is $56.78.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. On average, research analysts forecast that BlackLine will post 0.9 EPS for the current fiscal year.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares of the company’s stock, valued at $3,249,113.38. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of BlackLine by 13.6% in the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company’s stock worth $16,033,000 after acquiring an additional 34,919 shares during the period. Covestor Ltd lifted its stake in shares of BlackLine by 31.9% in the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after acquiring an additional 337 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of BlackLine by 3.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 39,474 shares of the technology company’s stock worth $2,177,000 after acquiring an additional 1,409 shares during the period. Victory Capital Management Inc. lifted its stake in shares of BlackLine by 61.9% in the 3rd quarter. Victory Capital Management Inc. now owns 25,677 shares of the technology company’s stock worth $1,416,000 after acquiring an additional 9,820 shares during the period. Finally, Geneva Capital Management LLC lifted its stake in shares of BlackLine by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 895,810 shares of the technology company’s stock worth $49,395,000 after acquiring an additional 24,446 shares during the period. 95.13% of the stock is 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.