Brokerages Set BlackLine, Inc. (NASDAQ:BL) PT at $61.80

Shares of BlackLine, Inc. (NASDAQ:BL) have received a consensus rating of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $61.80.

Several analysts have recently commented on the stock. Robert W. Baird reduced their price objective on shares of BlackLine from $65.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Citigroup raised their price objective on shares of BlackLine from $57.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. William Blair cut BlackLine from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut their target price on BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th. Finally, Wolfe Research began coverage on BlackLine in a report on Monday, March 18th. They issued a “peer perform” rating on the stock.

BlackLine Price Performance

NASDAQ:BL opened at $57.37 on Friday. BlackLine has a one year low of $47.26 and a one year high of $69.31. The company has a market cap of $3.55 billion, a P/E ratio of -573.70, a P/E/G ratio of 10.19 and a beta of 0.86. The firm’s fifty day moving average price is $62.02 and its two-hundred day moving average price is $59.13. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.28. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. The business had revenue of $155.73 million during the quarter, compared to analysts’ expectations of $154.24 million. Equities analysts expect that BlackLine will post 1.02 earnings per share for the current year.

Insider Activity at BlackLine

In other BlackLine news, Director Kevin B. Thompson sold 4,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $632,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Thomas Unterman sold 750 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $60.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 51,470 shares of the company’s stock, valued at $3,088,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin B. Thompson sold 4,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $632,500. The disclosure for this sale can be found here. 9.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC lifted its position in shares of BlackLine by 94.8% during the 4th quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after buying an additional 220 shares in the last quarter. CVA Family Office LLC bought a new stake in BlackLine during the 4th quarter valued at approximately $38,000. Quarry LP raised its stake in BlackLine by 1,101.9% during the 1st quarter. Quarry LP now owns 625 shares of the technology company’s stock valued at $42,000 after purchasing an additional 573 shares during the period. Federated Hermes Inc. raised its stake in BlackLine by 505.2% during the 3rd quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock valued at $51,000 after purchasing an additional 773 shares during the period. Finally, Operose Advisors LLC raised its stake in BlackLine by 291.2% during the 3rd quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock valued at $54,000 after purchasing an additional 728 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

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.