Blackline Inc (NASDAQ:BL) Given Consensus Rating of “Hold” by Brokerages

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Shares of Blackline Inc (NASDAQ:BL) have received an average rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $54.50.

BL has been the topic of several research analyst reports. Zacks Investment Research lowered Blackline from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Piper Jaffray Companies assumed coverage on Blackline in a research note on Monday, November 25th. They set a “neutral” rating and a $60.00 target price for the company. ValuEngine lowered Blackline from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. BidaskClub lowered Blackline from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, First Analysis started coverage on shares of Blackline in a research note on Friday, October 4th. They issued an “outperform” rating and a $55.00 price target on the stock.

Shares of BL stock traded down $0.61 during mid-day trading on Monday, hitting $51.91. 378,397 shares of the stock were exchanged, compared to its average volume of 508,265. Blackline has a 52-week low of $36.85 and a 52-week high of $56.29. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.99. The company has a market cap of $2.89 billion, a PE ratio of -199.65 and a beta of 0.81. The firm has a fifty day moving average of $50.10 and a 200 day moving average of $50.13.

Blackline (NASDAQ:BL) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.09. The firm had revenue of $74.93 million during the quarter, compared to analyst estimates of $72.33 million. Blackline had a negative return on equity of 4.36% and a negative net margin of 11.36%. Blackline’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS. Equities analysts predict that Blackline will post -0.21 EPS for the current year.

In other news, insider Mario Spanicciati sold 8,046 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $54.03, for a total value of $434,725.38. Following the completion of the sale, the insider now directly owns 19,512 shares in the company, valued at $1,054,233.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Marc Huffman sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $52.60, for a total transaction of $263,000.00. Following the completion of the sale, the chief operating officer now owns 199,419 shares of the company’s stock, valued at $10,489,439.40. The disclosure for this sale can be found here. Insiders sold a total of 34,941 shares of company stock worth $1,867,496 over the last ninety days. 15.77% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Blackline by 1.6% during the second quarter. Vanguard Group Inc. now owns 3,908,283 shares of the technology company’s stock worth $209,133,000 after buying an additional 63,253 shares during the last quarter. BlackRock Inc. increased its stake in shares of Blackline by 12.6% in the 2nd quarter. BlackRock Inc. now owns 3,119,985 shares of the technology company’s stock worth $166,949,000 after acquiring an additional 349,712 shares during the last quarter. DF Dent & Co. Inc. raised its holdings in shares of Blackline by 5.0% during the 2nd quarter. DF Dent & Co. Inc. now owns 3,068,905 shares of the technology company’s stock worth $164,217,000 after acquiring an additional 147,453 shares during the period. Invesco Ltd. raised its holdings in shares of Blackline by 17.9% during the 2nd quarter. Invesco Ltd. now owns 1,408,704 shares of the technology company’s stock worth $75,379,000 after acquiring an additional 213,931 shares during the period. Finally, Conestoga Capital Advisors LLC raised its holdings in shares of Blackline by 2.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,149,659 shares of the technology company’s stock worth $61,518,000 after acquiring an additional 29,432 shares during the period. 91.37% of the stock is currently owned by hedge funds and other institutional investors.

Blackline Company Profile

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

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Analyst Recommendations for Blackline (NASDAQ:BL)

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