Brokerages Set BlackLine, Inc. (NASDAQ:BL) PT at $61.80

Shares of BlackLine, Inc. (NASDAQ:BL) have been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $62.20.

Several brokerages have recently issued reports on BL. The Goldman Sachs Group raised their price objective on shares of BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a research note on Tuesday, January 23rd. Piper Sandler upgraded shares of BlackLine from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $62.00 in a research note on Tuesday. Wolfe Research began coverage on shares of BlackLine in a research note on Monday, March 18th. They set a “peer perform” rating on the stock. Citigroup decreased their price target on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Robert W. Baird decreased their price target on shares of BlackLine from $65.00 to $61.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th.

BlackLine Trading Down 1.7 %

NASDAQ:BL opened at $58.89 on Friday. The company’s 50 day moving average is $62.04 and its 200-day moving average is $59.27. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -588.90, a P/E/G ratio of 10.92 and a beta of 0.86. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37. BlackLine has a 12 month low of $47.26 and a 12 month high of $69.31.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.28. The business had revenue of $155.73 million for the quarter, compared to the consensus estimate of $154.24 million. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. Equities analysts anticipate that BlackLine will post 1.02 EPS for the current year.

Insider Activity

In other news, Director Thomas Unterman sold 750 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the sale, the director now owns 51,470 shares in the company, valued at approximately $3,088,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $632,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the completion of the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at $3,088,200. The disclosure for this sale can be found here. 9.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of BlackLine by 94.8% in the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after buying an additional 220 shares during the last quarter. TFO Wealth Partners LLC raised its holdings in BlackLine by 9,080.0% during the 4th quarter. TFO Wealth Partners LLC now owns 459 shares of the technology company’s stock worth $312,000 after purchasing an additional 454 shares during the last quarter. CVA Family Office LLC bought a new stake in BlackLine during the 4th quarter worth about $38,000. Federated Hermes Inc. raised its holdings in BlackLine by 505.2% during the 3rd quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock worth $51,000 after purchasing an additional 773 shares during the last quarter. Finally, Operose Advisors LLC raised its holdings in BlackLine by 291.2% during the 3rd quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock worth $54,000 after purchasing an additional 728 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.