BlackLine, Inc. (NASDAQ:BL) Given Average Recommendation of "Hold" by Brokerages

BlackLine, Inc. (NASDAQ:BL - Get Free Report) has received an average rating of "Hold" from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $66.40.

BL has been the topic of a number of research reports. StockNews.com lowered BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. JMP Securities reiterated a "market outperform" rating and set a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. Morgan Stanley increased their target price on BlackLine from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and upped their price target for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, Citigroup reduced their target price on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, February 12th.

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BlackLine Stock Down 1.5 %

BL stock traded down $0.74 during mid-day trading on Monday, reaching $47.46. The company had a trading volume of 637,837 shares, compared to its average volume of 825,720. BlackLine has a 52 week low of $43.37 and a 52 week high of $69.31. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 10.80 and a beta of 1.03. The stock has a 50 day simple moving average of $56.17 and a two-hundred day simple moving average of $56.75. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69.

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

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares of the company's stock, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.93% of the company's stock.

Institutional Investors Weigh In On BlackLine

Large investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of BlackLine by 1.3% in the third quarter. FMR LLC now owns 5,153,275 shares of the technology company's stock worth $284,152,000 after acquiring an additional 64,435 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in BlackLine by 20.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after buying an additional 354,784 shares during the period. JPMorgan Chase & Co. lifted its stake in BlackLine by 35.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after purchasing an additional 435,271 shares in the last quarter. Geode Capital Management LLC increased its stake in BlackLine by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock worth $70,704,000 after acquiring an additional 3,498 shares during the last quarter. Finally, Topline Capital Management LLC purchased a new stake in shares of BlackLine during the 4th quarter worth approximately $60,572,000. 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.