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

BlackLine, Inc. (NASDAQ:BL) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $66.40.

Several equities research analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. StockNews.com downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Wednesday, February 12th. Truist Financial lowered their price objective on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.93% of the company’s stock.

Institutional Trading of BlackLine

A number of institutional investors and hedge funds have recently modified their holdings of BL. SBI Securities Co. Ltd. purchased a new stake in shares of BlackLine during the fourth quarter worth about $31,000. Global Retirement Partners LLC increased its stake in shares of BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after purchasing an additional 449 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock worth $35,000 after purchasing an additional 414 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after purchasing an additional 185 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of BlackLine during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Price Performance

NASDAQ BL opened at $48.88 on Monday. The firm’s fifty day simple moving average is $56.91 and its two-hundred day simple moving average is $56.84. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. BlackLine has a 12-month low of $43.37 and a 12-month high of $69.31. The firm has a market capitalization of $3.07 billion, a P/E ratio of 33.71, a P/E/G ratio of 10.80 and a beta of 1.03.

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%. Analysts forecast that BlackLine will post 0.9 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.