BlackLine, Inc. (NASDAQ:BL) Given Consensus Recommendation of "Hold" by Analysts

Shares of BlackLine, Inc. (NASDAQ:BL - Get Free Report) have been assigned an average recommendation of "Hold" from the twelve research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $64.27.

A number of equities analysts recently commented on BL shares. BMO Capital Markets decreased their target price on BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 12th. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Citigroup decreased their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $86.00 price target on shares of BlackLine in a report on Wednesday, January 15th.

BlackLine Stock Performance

Shares of BlackLine stock traded up $3.86 during trading hours on Friday, reaching $46.13. 1,232,941 shares of the stock traded hands, compared to its average volume of 807,555. BlackLine has a one year low of $40.82 and a one year high of $66.48. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 10.80 and a beta of 0.97. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company has a 50 day moving average price of $50.85 and a 200 day moving average price of $56.43.

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 the consensus estimate 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 expect that BlackLine will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the sale, the executive now owns 65,414 shares of the company's stock, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.93% of the company's stock.

Institutional Trading of BlackLine

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in shares of BlackLine by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,222 shares of the technology company's stock valued at $27,307,000 after purchasing an additional 20,027 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in BlackLine by 0.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,072 shares of the technology company's stock worth $6,566,000 after buying an additional 753 shares during the last quarter. Atom Investors LP purchased a new position in BlackLine during the third quarter worth $285,000. Centiva Capital LP bought a new position in BlackLine during the third quarter valued at $336,000. Finally, Point72 Asset Management L.P. raised its stake in shares of BlackLine by 63.0% in the third quarter. Point72 Asset Management L.P. now owns 317,991 shares of the technology company's stock valued at $17,534,000 after acquiring an additional 122,849 shares during the period. 95.13% of the stock is currently owned by institutional investors.

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.