BlackLine (NASDAQ:BL) Raised to Neutral at Piper Sandler

BlackLine (NASDAQ:BL - Get Free Report) was upgraded by stock analysts at Piper Sandler from an "underweight" rating to a "neutral" rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $46.00 price objective on the technology company's stock. Piper Sandler's price target points to a potential upside of 2.09% from the company's current price.

Several other analysts also recently weighed in on the stock. StockNews.com downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a report on Thursday, April 17th. Citigroup reduced their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Bank of America raised BlackLine from an "underperform" rating to a "buy" rating and raised their price target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, Morgan Stanley reduced their price objective on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $60.00.

BlackLine Price Performance

BL opened at $45.06 on Wednesday. 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's 50-day moving average price is $47.82 and its 200 day moving average price is $55.91. BlackLine has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97.

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

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the firm'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 transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in shares of BlackLine during the 4th quarter worth about $31,000. Global Retirement Partners LLC lifted its holdings in shares of 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 buying an additional 449 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after acquiring an additional 414 shares during the period. GAMMA Investing LLC grew its stake in shares of BlackLine by 41.2% in 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 last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of BlackLine in the fourth quarter worth $50,000. 95.13% of the stock is 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.

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