Shares of BlackLine, Inc. (NASDAQ:BL - Get Free Report) have received an average rating of "Hold" from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $66.40.
BL has been the subject of several research reports. Morgan Stanley increased their target price on BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and increased their target price for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. BMO Capital Markets decreased their price target on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research note on Wednesday. Truist Financial decreased their price target on BlackLine from $60.00 to $55.00 and set a "hold" rating for the company in a research note on Wednesday. Finally, Piper Sandler decreased their price target on BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a research note on Wednesday.
View Our Latest Stock Analysis on BlackLine
BlackLine Price Performance
Shares of BL stock traded down $0.89 on Thursday, hitting $51.37. 913,448 shares of the company's stock were exchanged, compared to its average volume of 516,899. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. BlackLine has a 12 month low of $43.37 and a 12 month high of $69.31. The stock has a market cap of $3.21 billion, a P/E ratio of 52.42, a price-to-earnings-growth ratio of 9.14 and a beta of 0.92. The company has a 50 day moving average of $61.15 and a 200 day moving average of $56.90.
BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings data 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 31.02% and a net margin of 19.83%. On average, equities research analysts predict that BlackLine will post 1 EPS for the current year.
Insider Buying and Selling at BlackLine
In other news, CRO Mark Woodhams sold 24,408 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56. Following the transaction, the executive now owns 72,920 shares in the company, valued at $4,690,214.40. This trade represents a 25.08 % 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 hyperlink. Insiders own 9.93% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of BL. SBI Securities Co. Ltd. bought a new stake in BlackLine during the fourth quarter worth $31,000. Global Retirement Partners LLC lifted its holdings in BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after acquiring an additional 449 shares during the period. Quadrant Capital Group LLC lifted its holdings in BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock worth $35,000 after acquiring an additional 414 shares during the period. GAMMA Investing LLC lifted its holdings in BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock worth $39,000 after acquiring an additional 185 shares during the period. Finally, Headlands Technologies LLC bought a new stake in BlackLine during the fourth quarter worth $50,000. Institutional investors own 95.13% of the company's stock.
About BlackLine
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Get Free ReportBlackLine, 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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