BlackLine, Inc. (NASDAQ:BL) Receives $64.10 Consensus PT from Analysts

BlackLine, Inc. (NASDAQ:BL) has received an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $64.10.

BL has been the topic of a number of research analyst reports. JMP Securities raised their price target on BlackLine from $81.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed a “neutral” rating and set a $60.00 price target on shares of BlackLine in a research report on Wednesday, November 20th. Morgan Stanley raised their price target on BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised their price target on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Robert W. Baird dropped their price target on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th.

BlackLine Trading Up 0.6 %

NASDAQ:BL opened at $62.37 on Friday. BlackLine has a 1-year low of $43.37 and a 1-year high of $69.31. The business’s 50-day moving average price is $57.59 and its two-hundred day moving average price is $51.80. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 63.64, a PEG ratio of 14.56 and a beta of 0.90.

Insider Transactions at BlackLine

In related news, insider Karole Morgan-Prager sold 27,079 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the sale, the insider now owns 113,865 shares in the company, valued at $6,838,731.90. The trade was a 19.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Partin sold 85,308 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $54.84, for a total value of $4,678,290.72. Following the sale, the chief financial officer now owns 226,844 shares in the company, valued at $12,440,124.96. This represents a 27.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,108 shares of company stock valued at $7,488,826. Corporate insiders own 9.93% of the company’s stock.

Institutional Investors Weigh In On BlackLine

A number of institutional investors have recently made changes to their positions in BL. Quarry LP bought a new stake in shares of BlackLine in the 2nd quarter valued at about $32,000. 1620 Investment Advisors Inc. acquired a new position in shares of BlackLine in the 2nd quarter valued at about $64,000. Covestor Ltd lifted its stake in shares of BlackLine by 31.9% in the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock valued at $77,000 after purchasing an additional 337 shares during the period. Fifth Third Bancorp lifted its stake in shares of BlackLine by 13.0% in the 2nd quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock valued at $112,000 after purchasing an additional 266 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of BlackLine in the 2nd quarter valued at about $145,000. Institutional investors own 95.13% of the company’s stock.

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.