JMP Securities Issues Positive Forecast for BlackLine (NASDAQ:BL) Stock Price

BlackLine (NASDAQ:BL) had its price target lifted by JMP Securities from $81.00 to $86.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

Several other equities analysts also recently commented on the stock. Morgan Stanley boosted their price target on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial boosted their price target on shares of BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Robert W. Baird dropped their price target on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. BTIG Research dropped their price target on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Piper Sandler restated a “neutral” rating and issued a $60.00 price target on shares of BlackLine in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $64.10.

BlackLine Stock Up 1.6 %

Shares of NASDAQ BL opened at $62.70 on Friday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 63.98, a PEG ratio of 13.54 and a beta of 0.90. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. BlackLine has a 52-week low of $43.37 and a 52-week high of $69.31. The business’s 50 day moving average is $56.00 and its two-hundred day moving average is $51.74.

Insider Buying and Selling

In other BlackLine news, CFO Mark Partin sold 5,648 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $53.00, for a total value of $299,344.00. Following the completion of the transaction, the chief financial officer now owns 226,844 shares in the company, valued at $12,022,732. This represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Karole Morgan-Prager sold 27,079 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the completion of the transaction, the insider now owns 113,865 shares of the company’s stock, valued at $6,838,731.90. This represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,108 shares of company stock worth $7,488,826. Corporate insiders own 9.93% of the company’s stock.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of BlackLine by 9.5% in the first quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after buying an additional 642,772 shares during the last quarter. FMR LLC raised its holdings in shares of BlackLine by 1.3% in the third quarter. FMR LLC now owns 5,153,275 shares of the technology company’s stock valued at $284,152,000 after buying an additional 64,435 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of BlackLine by 24.9% in the third quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company’s stock valued at $96,997,000 after buying an additional 350,143 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of BlackLine by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company’s stock valued at $70,704,000 after buying an additional 3,498 shares during the last quarter. Finally, Geneva Capital Management LLC raised its holdings in shares of BlackLine by 2.8% in the third quarter. Geneva Capital Management LLC now owns 895,810 shares of the technology company’s stock valued at $49,395,000 after buying an additional 24,446 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other 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.