BlackLine, Inc. (NASDAQ:BL) Receives $66.40 Consensus Target Price from Analysts

Shares of BlackLine, Inc. (NASDAQ:BL) have earned an average rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $66.40.

A number of brokerages have recently weighed in on BL. Truist Financial dropped their target price on BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. BMO Capital Markets cut their price target on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Piper Sandler dropped their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Wednesday, February 12th. Finally, Citigroup decreased their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th.

BlackLine Trading Down 1.7 %

Shares of BL opened at $51.37 on Thursday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42. BlackLine has a 1-year low of $43.37 and a 1-year high of $69.31. The stock has a market capitalization of $3.21 billion, a P/E ratio of 52.42, a P/E/G ratio of 9.14 and a beta of 0.92. The business’s 50-day moving average price is $60.91 and its 200 day moving average price is $56.93.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 31.02% and a net margin of 19.83%. Analysts expect that BlackLine will post 1 earnings per share for the current year.

Insider Activity at BlackLine

In other news, CRO Mark Woodhams sold 24,408 shares of BlackLine stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the sale, the executive now directly owns 72,920 shares in the company, valued at approximately $4,690,214.40. The trade was a 25.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BL. SBI Securities Co. Ltd. bought a new position in shares of BlackLine in the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its stake in BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after purchasing an additional 449 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in BlackLine by 243.5% during the 4th quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock worth $35,000 after acquiring an additional 414 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after purchasing an additional 185 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in BlackLine in the 4th quarter valued at $50,000. Institutional investors own 95.13% of the company’s stock.

BlackLine Company Profile

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.