BL has been the subject of a number of other reports. Piper Sandler increased their target price on shares of BlackLine from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Oppenheimer increased their target price on shares of BlackLine from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, November 18th. Robert W. Baird increased their target price on shares of BlackLine from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 23rd. Zacks Investment Research downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, December 30th. Finally, BTIG Research increased their target price on shares of BlackLine from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, December 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. BlackLine currently has a consensus rating of “Buy” and a consensus price target of $111.00.
NASDAQ:BL opened at $129.69 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.70 and a current ratio of 3.70. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -187.95 and a beta of 0.95. BlackLine has a 52 week low of $38.32 and a 52 week high of $141.82. The firm has a 50-day moving average price of $126.39 and a two-hundred day moving average price of $98.40.
BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Thursday, October 29th. The technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.14. The firm had revenue of $90.53 million during the quarter, compared to analyst estimates of $85.06 million. BlackLine had a negative net margin of 11.58% and a negative return on equity of 0.29%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. As a group, sell-side analysts forecast that BlackLine will post -0.19 earnings per share for the current year.
In related news, Director Graham Smith sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $107.84, for a total transaction of $862,720.00. Following the sale, the director now directly owns 13,678 shares in the company, valued at approximately $1,475,035.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Peter Hirsch sold 1,113 shares of the business’s stock in a transaction on Monday, November 23rd. The shares were sold at an average price of $113.54, for a total value of $126,370.02. Following the sale, the chief technology officer now owns 41,597 shares in the company, valued at $4,722,923.38. The disclosure for this sale can be found here. 13.44% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of BlackLine by 47.1% during the first quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock worth $52,372,000 after purchasing an additional 361,839 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BlackLine by 7.4% in the second quarter. Vanguard Group Inc. now owns 4,518,635 shares of the technology company’s stock worth $374,640,000 after purchasing an additional 310,114 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of BlackLine by 42.8% in the third quarter. JPMorgan Chase & Co. now owns 961,228 shares of the technology company’s stock worth $86,828,000 after purchasing an additional 288,251 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of BlackLine by 43.9% in the second quarter. Nuveen Asset Management LLC now owns 441,308 shares of the technology company’s stock worth $36,589,000 after purchasing an additional 134,585 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. bought a new position in shares of BlackLine in the third quarter worth approximately $7,821,000. Institutional investors own 94.46% of the company’s stock.
BlackLine Company Profile
BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its reconciliation management solutions include Account Reconciliations that provides a centralized workspace from which users can collaborate to complete account reconciliations; Transaction Matching that analyzes and reconciles high volumes of individual transactions; Consolidation Integrity Manager, which manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and Daily Reconciliations, which narrows the scope of a reconciliation to a single day’s transactions or balance detail.
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