Shares of Blackline Inc (NASDAQ:BL) have earned an average rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $54.67.

BL has been the topic of several research reports. KeyCorp restated a “buy” rating and issued a $56.00 target price on shares of Blackline in a research note on Thursday, February 14th. Goldman Sachs Group restated a “buy” rating and issued a $53.00 target price on shares of Blackline in a research note on Friday, February 1st. Zacks Investment Research raised Blackline from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, April 16th. BidaskClub lowered Blackline from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Finally, Raymond James lowered Blackline from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. They noted that the move was a valuation call.

NASDAQ BL traded up $0.98 during trading on Thursday, hitting $51.44. The stock had a trading volume of 4,494 shares, compared to its average volume of 467,572. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -197.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.35. Blackline has a 12 month low of $34.01 and a 12 month high of $58.11.

Blackline (NASDAQ:BL) last released its earnings results on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. The firm had revenue of $64.13 million for 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 business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. On average, equities research analysts forecast that Blackline will post -0.29 EPS for the current year.

In other Blackline news, CFO Mark Partin sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mario Spanicciati sold 400,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $48.16, for a total value of $19,264,000.00. Following the transaction, the insider now directly owns 11,812 shares in the company, valued at approximately $568,865.92. The disclosure for this sale can be found here. Insiders have sold a total of 910,000 shares of company stock worth $43,844,100 in the last ninety days. Insiders own 15.77% of the company’s stock.

Several hedge funds have recently bought and sold shares of BL. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Blackline by 148.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,647,172 shares of the technology company’s stock worth $168,937,000 after acquiring an additional 2,179,350 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Blackline by 29.8% during the 1st quarter. Champlain Investment Partners LLC now owns 1,634,940 shares of the technology company’s stock worth $75,730,000 after acquiring an additional 375,040 shares during the last quarter. FMR LLC increased its holdings in shares of Blackline by 47.1% during the 1st quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock worth $52,372,000 after acquiring an additional 361,839 shares during the last quarter. Copper Rock Capital Partners LLC acquired a new position in shares of Blackline during the 1st quarter worth approximately $16,449,000. Finally, Laurion Capital Management LP acquired a new position in shares of Blackline during the 1st quarter worth approximately $16,024,000. 85.95% of the stock is currently owned by institutional investors and hedge funds.

About Blackline

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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