BlackLine, Inc. (NASDAQ:BL) Given Consensus Rating of “Hold” by Brokerages

BlackLine, Inc. (NASDAQ:BL) has received a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $65.64.

A number of analysts recently issued reports on the company. Piper Sandler lowered their target price on BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Wednesday, February 12th. StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. DA Davidson assumed coverage on BlackLine in a research note on Tuesday. They issued a “buy” rating and a $58.00 price target on the stock. Bank of America raised BlackLine from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. Finally, JMP Securities restated a “market outperform” rating and issued a $86.00 target price on shares of BlackLine in a research note on Wednesday, January 15th.

BlackLine Stock Down 6.8 %

Shares of NASDAQ:BL opened at $46.08 on Friday. BlackLine has a 52 week low of $43.37 and a 52 week high of $69.09. The company has a market capitalization of $2.91 billion, a PE ratio of 31.78, a PEG ratio of 10.80 and a beta of 0.97. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The company has a 50 day moving average price of $53.12 and a two-hundred day moving average price of $56.73.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. Analysts forecast that BlackLine will post 0.9 earnings per share for the current year.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction that occurred 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 completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackLine

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of BlackLine in the fourth quarter valued at approximately $4,361,000. Castleark Management LLC acquired a new position in BlackLine in the 4th quarter valued at $1,510,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in BlackLine by 32.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,535 shares of the technology company’s stock worth $9,572,000 after buying an additional 38,463 shares during the period. Woodline Partners LP acquired a new stake in shares of BlackLine during the fourth quarter worth $365,000. Finally, Sone Capital Management LLC bought a new stake in shares of BlackLine in the fourth quarter valued at about $4,934,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

About BlackLine

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.