BlackLine, Inc. (NASDAQ:BL) Given Consensus Rating of "Hold" by Brokerages

BlackLine, Inc. (NASDAQ:BL - Get Free Report) has received a consensus rating of "Hold" from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $60.00.

BL has been the topic of a number of research reports. JMP Securities restated a "market outperform" rating and issued a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. DA Davidson decreased their price objective on BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Citigroup decreased their price objective on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and raised their price objective for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, The Goldman Sachs Group decreased their price objective on BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, April 17th.

Insider Buying and Selling at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction that occurred on 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 $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackLine

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Conestoga Capital Advisors LLC raised its holdings in shares of BlackLine by 20.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock valued at $128,439,000 after purchasing an additional 354,784 shares in the last quarter. JPMorgan Chase & Co. raised its stake in BlackLine by 35.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after acquiring an additional 435,271 shares in the last quarter. Topline Capital Management LLC acquired a new stake in BlackLine during the 4th quarter worth $60,572,000. American Century Companies Inc. raised its stake in BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock worth $54,481,000 after acquiring an additional 889,570 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in BlackLine by 38.8% during the 4th quarter. Brown Advisory Inc. now owns 783,437 shares of the technology company's stock worth $47,602,000 after acquiring an additional 218,976 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

BlackLine Trading Down 0.8 %

Shares of NASDAQ:BL opened at $46.85 on Tuesday. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97. 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 business's 50 day moving average price is $47.46 and its 200-day moving average price is $55.68.

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

About BlackLine

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.

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