BlackLine (NASDAQ:BL) Receives $60.67 Consensus PT from Brokerages

Key Points

• BlackLine has received a consensus recommendation of "Hold" from twelve analysts, with target prices averaging around $60.67.
• Recent insider trading saw CRO Mark Woodhams and CAO Michelle D. Stalick selling shares, indicating a decrease in their stock positions.
• For the latest quarter, BlackLine reported $0.51 EPS, exceeding analyst expectations, and a revenue of $172.03 million, reflecting a 7.2% increase from the previous year.

BlackLine (NASDAQ:BL - Get Free Report) has earned a consensus recommendation of "Hold" from the twelve research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $61.0833.

A number of brokerages recently commented on BL. Cantor Fitzgerald began coverage on BlackLine in a report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 price target on the stock. The Goldman Sachs Group decreased their target price on BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a research report on Thursday, April 17th. Wall Street Zen downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. BMO Capital Markets increased their price target on shares of BlackLine from $60.00 to $63.00 and gave the company a "market perform" rating in a research report on Wednesday. Finally, DA Davidson initiated coverage on shares of BlackLine in a research report on Wednesday. They issued a "neutral" rating and a $56.00 price objective on the stock.

BlackLine Stock Down 4.3%

BlackLine stock traded down $2.15 during midday trading on Thursday, hitting $48.35. 995,655 shares of the stock were exchanged, compared to its average volume of 680,524. BlackLine has a 52-week low of $40.82 and a 52-week high of $66.25. The company has a quick ratio of 1.66, a current ratio of 1.64 and a debt-to-equity ratio of 1.61. The business's 50-day moving average price is $55.66 and its 200-day moving average price is $52.90. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 37.48, a price-to-earnings-growth ratio of 6.66 and a beta of 0.91.

BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The firm had revenue of $172.03 million for the quarter, compared to analysts' expectations of $170.87 million. The company's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. On average, research analysts expect that BlackLine will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at BlackLine

In other BlackLine news, CAO Michelle D. Stalick sold 795 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the sale, the chief accounting officer owned 25,235 shares of the company's stock, valued at $1,391,457.90. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Mark Woodhams sold 1,856 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $54.65, for a total transaction of $101,430.40. Following the completion of the transaction, the executive owned 61,390 shares in the company, valued at approximately $3,354,963.50. This trade represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.

Institutional Trading of BlackLine

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hawk Ridge Capital Management LP grew its holdings in shares of BlackLine by 124.3% in the first quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company's stock worth $94,901,000 after purchasing an additional 1,086,185 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in BlackLine by 106.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company's stock worth $57,443,000 after acquiring an additional 611,499 shares during the last quarter. Topline Capital Management LLC bought a new stake in BlackLine in the 4th quarter worth $60,572,000. American Century Companies Inc. increased its position in shares of BlackLine by 7.2% in the first quarter. American Century Companies Inc. now owns 961,341 shares of the technology company's stock valued at $46,548,000 after acquiring an additional 64,676 shares during the period. Finally, Geneva Capital Management LLC raised its stake in shares of BlackLine by 5.6% during the second quarter. Geneva Capital Management LLC now owns 924,325 shares of the technology company's stock valued at $52,335,000 after acquiring an additional 49,292 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

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.