BlackLine (NASDAQ:BL) Given Consensus Rating of "Hold" by Analysts

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 been assigned an average rating of "Hold" from the twelve ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $61.0833.

BL has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of BlackLine from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday. Truist Financial lifted their target price on BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a report on Thursday. Piper Sandler lifted their price objective on BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. BMO Capital Markets increased their target price on shares of BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, Raymond James Financial upgraded shares of BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target on the stock in a report on Tuesday, July 29th.

BlackLine Price Performance

Shares of BlackLine stock traded down $2.15 during trading on Thursday, hitting $48.35. 995,655 shares of the company were exchanged, compared to its average volume of 744,805. The firm has a 50 day moving average price of $55.66 and a 200 day moving average price of $52.95. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 37.48, a P/E/G ratio of 8.54 and a beta of 0.91. The company has a quick ratio of 1.66, a current ratio of 1.64 and a debt-to-equity ratio of 1.61. BlackLine has a fifty-two week low of $40.82 and a fifty-two week high of $66.25.

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

Insider Transactions at BlackLine

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hawk Ridge Capital Management LP raised its holdings in shares of BlackLine by 124.3% during the first quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company's stock valued at $94,901,000 after acquiring an additional 1,086,185 shares during the period. Topline Capital Management LLC purchased a new position in BlackLine during the 4th quarter worth approximately $60,572,000. First Manhattan CO. LLC. raised its stake in BlackLine by 408.7% during the 1st quarter. First Manhattan CO. LLC. now owns 815,975 shares of the technology company's stock valued at $39,510,000 after purchasing an additional 655,565 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of BlackLine by 106.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company's stock valued at $57,443,000 after purchasing an additional 611,499 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of BlackLine in the first quarter worth $25,194,000. 95.13% of the stock is owned by institutional investors and hedge funds.

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.