Blackline Inc (NASDAQ:BL) Given Consensus Recommendation of “Hold” by Analysts

Shares of Blackline Inc (NASDAQ:BL) have received an average recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $50.67.

A number of research firms have recently commented on BL. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Goldman Sachs Group cut LATAM Airlines Group from a “neutral” rating to a “sell” rating and raised their target price for the company from $9.20 to $9.30 in a research note on Tuesday, July 2nd. Finally, BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd.

In other news, CFO Mark Partin sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $53.36, for a total value of $533,600.00. Following the completion of the transaction, the chief financial officer now owns 65,140 shares in the company, valued at approximately $3,475,870.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 29,500 shares of company stock valued at $1,510,695. 15.77% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in BL. FTB Advisors Inc. raised its stake in Blackline by 70.6% during the first quarter. FTB Advisors Inc. now owns 551 shares of the technology company’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in Blackline during the first quarter valued at $34,000. Bronfman E.L. Rothschild L.P. raised its stake in Blackline by 73.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,156 shares of the technology company’s stock valued at $47,000 after buying an additional 488 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Blackline by 86.8% in the fourth quarter. Advisor Group Inc. now owns 2,950 shares of the technology company’s stock worth $121,000 after purchasing an additional 1,371 shares during the last quarter. Finally, BB&T Corp purchased a new position in shares of Blackline in the first quarter worth $201,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

Shares of BL stock traded up $0.36 during trading hours on Friday, reaching $49.68. The company’s stock had a trading volume of 7,952 shares, compared to its average volume of 624,935. The company has a market capitalization of $2.72 billion, a PE ratio of -190.35 and a beta of 0.88. Blackline has a one year low of $34.01 and a one year high of $58.11. The business’s fifty day moving average is $51.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.35 and a quick ratio of 1.35.

Blackline (NASDAQ:BL) last released its earnings results on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.14. The company had revenue of $64.13 million during the quarter, compared to analysts’ expectations of $63.33 million. Blackline had a negative return on equity of 5.02% and a negative net margin of 12.15%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. Analysts expect that Blackline will post -0.29 earnings per share for the current year.

Blackline Company Profile

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

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Analyst Recommendations for Blackline (NASDAQ:BL)

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