BlackLine (NASDAQ:BL) had its target price lowered by equities researchers at Robert W. Baird from $132.00 to $105.00 in a note issued to investors on Friday, The Fly reports. Robert W. Baird’s target price would indicate a potential upside of 15.22% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of BlackLine from a “sell” rating to a “hold” rating in a research note on Wednesday, November 3rd. Oppenheimer raised their price target on shares of BlackLine from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 5th. Piper Sandler decreased their price target on shares of BlackLine from $130.00 to $112.00 and set an “overweight” rating for the company in a report on Friday. BTIG Research decreased their price target on shares of BlackLine from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, January 28th. Finally, Citigroup assumed coverage on shares of BlackLine in a report on Tuesday, February 1st. They issued a “hold” rating and a $92.00 price target for the company. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $124.00.
NASDAQ BL opened at $91.13 on Friday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 5.08 and a current ratio of 5.08. The firm’s 50 day moving average price is $96.36 and its 200-day moving average price is $110.63. BlackLine has a 52-week low of $81.54 and a 52-week high of $152.44. The company has a market cap of $5.35 billion, a PE ratio of -55.57 and a beta of 0.85.
BlackLine (NASDAQ:BL) last released its quarterly earnings data on Thursday, February 10th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). BlackLine had a negative net margin of 23.43% and a negative return on equity of 4.02%. The business had revenue of $115.30 million for the quarter, compared to the consensus estimate of $113.55 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. BlackLine’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts forecast that BlackLine will post -0.45 earnings per share for the current fiscal year.
In other news, CFO Mark Partin sold 5,000 shares of BlackLine stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $105.85, for a total value of $529,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Therese Tucker sold 38,665 shares of BlackLine stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $125.05, for a total transaction of $4,835,058.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,761 shares of company stock worth $10,436,919. 10.07% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Guidance Point Advisors LLC acquired a new position in BlackLine during the third quarter worth about $26,000. Pinebridge Investments L.P. purchased a new position in BlackLine during the fourth quarter worth about $41,000. Confluence Wealth Services Inc. purchased a new position in BlackLine during the fourth quarter worth about $61,000. CVA Family Office LLC purchased a new position in BlackLine during the fourth quarter worth about $64,000. Finally, Lindbrook Capital LLC purchased a new position in BlackLine during the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 97.37% 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.