Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Blackline (BL) Stock Price

Media headlines about Blackline (NASDAQ:BL) have trended somewhat positive this week, Accern reports. The research group identifies negative and positive media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Blackline earned a news impact score of 0.18 on Accern’s scale. Accern also gave news stories about the technology company an impact score of 46.7694927456316 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:

Several analysts have recently weighed in on BL shares. JPMorgan Chase & Co. lowered shares of Blackline from a “neutral” rating to an “underweight” rating and set a $27.00 price objective for the company. in a report on Thursday, January 25th. BidaskClub raised shares of Blackline from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. JMP Securities raised shares of Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. SunTrust Banks reaffirmed a “buy” rating and set a $42.00 price objective on shares of Blackline in a report on Friday, November 3rd. Finally, KeyCorp reaffirmed a “buy” rating and set a $39.00 price objective on shares of Blackline in a report on Sunday, October 22nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Blackline has an average rating of “Buy” and an average price target of $37.95.

Shares of Blackline (BL) opened at $39.04 on Friday. The firm has a market cap of $2,060.00 and a P/E ratio of -41.09. Blackline has a fifty-two week low of $26.72 and a fifty-two week high of $40.28.

Blackline (NASDAQ:BL) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. The business had revenue of $50.23 million during the quarter, compared to analyst estimates of $47.69 million. Blackline had a negative net margin of 21.50% and a negative return on equity of 6.55%. Blackline’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. equities research analysts anticipate that Blackline will post -0.35 earnings per share for the current fiscal year.

In related news, CMO Mario Spanicciati sold 12,750 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $38.17, for a total value of $486,667.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sumeru (Gp) L.L.C. Slta sold 2,649,698 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $34.07, for a total transaction of $90,275,210.86. The disclosure for this sale can be found here. In the last three months, insiders sold 4,538,250 shares of company stock valued at $154,728,083. 22.35% of the stock is currently owned by company insiders.

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About Blackline

BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.

Insider Buying and Selling by Quarter for Blackline (NASDAQ:BL)

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