BlackLine (NASDAQ:BL - Get Free Report) had its price target reduced by Truist Financial from $60.00 to $55.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the technology company's stock. Truist Financial's price target points to a potential upside of 7.07% from the company's current price.
Several other research firms have also recently weighed in on BL. StockNews.com cut shares of BlackLine from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. upped their price target on shares of BlackLine from $47.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Piper Sandler decreased their target price on BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a research report on Wednesday. JMP Securities reaffirmed a "market outperform" rating and set a $86.00 target price on shares of BlackLine in a research note on Wednesday, January 15th. Finally, BMO Capital Markets dropped their price objective on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $66.40.
View Our Latest Research Report on BlackLine
BlackLine Trading Down 1.7 %
NASDAQ:BL traded down $0.89 on Wednesday, reaching $51.37. The company's stock had a trading volume of 913,448 shares, compared to its average volume of 516,899. The firm has a market cap of $3.21 billion, a PE ratio of 52.42, a PEG ratio of 9.14 and a beta of 0.92. BlackLine has a 1-year low of $43.37 and a 1-year high of $69.31. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69. The business's 50-day moving average price is $61.15 and its two-hundred day moving average price is $56.83.
BlackLine (NASDAQ:BL - Get Free Report) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS 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%. Equities research analysts anticipate that BlackLine will post 1 earnings per share for the current fiscal year.
Insider Transactions 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.
Hedge Funds Weigh In On BlackLine
Several hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of BlackLine in the fourth quarter valued at $31,000. Global Retirement Partners LLC increased its stake in shares of BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after purchasing an additional 449 shares in the last quarter. Quadrant Capital Group LLC raised 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 purchasing an additional 414 shares during the period. GAMMA Investing LLC lifted its stake in shares of BlackLine by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after buying an additional 185 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in BlackLine in the 4th quarter valued at approximately $50,000. Institutional investors own 95.13% of the company's stock.
BlackLine Company Profile
(
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.
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