Shares of BlackLine, Inc. (NASDAQ:BL – Get Free Report) have been assigned an average rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $59.90.
BL has been the subject of a number of recent research reports. Morgan Stanley upgraded shares of BlackLine from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $70.00 in a research note on Monday, September 30th. Robert W. Baird lowered their target price on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. BTIG Research cut their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a research note on Monday, July 15th. Finally, JPMorgan Chase & Co. cut their target price on BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th.
Read Our Latest Stock Analysis on BlackLine
Insider Buying and Selling at BlackLine
Hedge Funds Weigh In On BlackLine
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BL. Quarry LP bought a new position in shares of BlackLine in the second quarter worth $32,000. EntryPoint Capital LLC purchased a new stake in BlackLine during the 1st quarter worth about $36,000. 1620 Investment Advisors Inc. purchased a new stake in BlackLine during the 2nd quarter worth about $64,000. Covestor Ltd boosted its stake in BlackLine by 29.4% in the 1st quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock worth $97,000 after purchasing an additional 340 shares during the period. Finally, Fifth Third Bancorp grew its holdings in BlackLine by 13.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock valued at $112,000 after buying an additional 266 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.
BlackLine Price Performance
Shares of NASDAQ BL opened at $57.62 on Friday. The firm has a market capitalization of $3.56 billion, a P/E ratio of 250.52, a P/E/G ratio of 13.57 and a beta of 0.90. The firm’s 50-day moving average price is $51.28 and its 200-day moving average price is $52.22. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. BlackLine has a 1-year low of $43.37 and a 1-year high of $69.31.
BlackLine (NASDAQ:BL – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The business had revenue of $160.51 million for the quarter, compared to the consensus estimate of $158.21 million. During the same period in the prior year, the business earned ($0.69) EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that BlackLine will post 0.96 earnings per share for the current fiscal year.
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.
Featured Stories
- Five stocks we like better than BlackLine
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- Goldman Sachs Earnings Reveal Market Moves Investors Can’t Ignore
- Options Trading – Understanding Strike Price
- AMD Gains Momentum With AI: Can It Beat Expectations?
- Consumer Staples Stocks, Explained
- Lithium Grab: 2 Lithium Stocks That Could Be Takeover Targets
Receive News & Ratings for BlackLine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackLine and related companies with MarketBeat.com's FREE daily email newsletter.