BlackLine, Inc. (NASDAQ:BL - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $43.02 and last traded at $43.82, with a volume of 676571 shares. The stock had previously closed at $46.08.
Analyst Ratings Changes
BL has been the subject of a number of research reports. Bank of America raised BlackLine from an "underperform" rating to a "buy" rating and raised their price objective for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. BMO Capital Markets reduced their price target on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. StockNews.com downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a 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. Finally, Piper Sandler cut 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, February 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, BlackLine has a consensus rating of "Hold" and an average target price of $64.27.
Read Our Latest Stock Analysis on BlackLine
BlackLine Stock Up 9.1 %
The firm has a market capitalization of $2.91 billion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The stock has a fifty day moving average of $51.55 and a 200 day moving average of $56.54.
BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. On average, research analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.
Insider Transactions at BlackLine
In other news, CRO Mark Woodhams sold 9,088 shares of the company's stock in a transaction 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 owns 65,414 shares of the company's stock, valued at $3,249,113.38. This represents a 12.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.93% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On BlackLine
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC raised its stake in shares of BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock valued at $128,439,000 after purchasing an additional 354,784 shares during the period. JPMorgan Chase & Co. increased its position in shares of BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock valued at $91,896,000 after buying an additional 435,271 shares during the period. Geode Capital Management LLC boosted its position in shares of BlackLine by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock valued at $70,704,000 after acquiring an additional 3,498 shares during the period. Topline Capital Management LLC purchased a new position in BlackLine during the fourth quarter valued at approximately $60,572,000. Finally, American Century Companies Inc. grew its stake in BlackLine by 12,538.0% during the fourth quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock valued at $54,481,000 after acquiring an additional 889,570 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.
About BlackLine
(
Get Free Report)
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.
Read More
Before you consider BlackLine, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackLine wasn't on the list.
While BlackLine currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
