Shares of Blackline Inc (NASDAQ:BL) have been given a consensus rating of “Hold” by the nine research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $54.50.

Several analysts have issued reports on BL shares. ValuEngine downgraded shares of Blackline from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. TheStreet raised Blackline from a “d+” rating to a “c” rating in a research note on Monday, October 28th. First Analysis started coverage on Blackline in a research note on Friday, October 4th. They set an “outperform” rating and a $55.00 target price on the stock. Zacks Investment Research downgraded Blackline from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, BidaskClub lowered Blackline from a “buy” rating to a “hold” rating in a research note on Thursday.

NASDAQ BL traded down $0.61 on Monday, hitting $51.91. 378,397 shares of the stock were exchanged, compared to its average volume of 508,265. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.87 and a current ratio of 3.87. Blackline has a 52-week low of $36.85 and a 52-week high of $56.29. The firm has a market capitalization of $2.89 billion, a P/E ratio of -199.65 and a beta of 0.81. The stock has a fifty day moving average price of $50.10 and a two-hundred day moving average price of $50.13.

Blackline (NASDAQ:BL) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.09. Blackline had a negative net margin of 11.36% and a negative return on equity of 4.36%. The business had revenue of $74.93 million for the quarter, compared to the consensus estimate of $72.33 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. Sell-side analysts expect that Blackline will post -0.21 earnings per share for the current fiscal year.

In related news, insider Morgan Karole Prager sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.30, for a total value of $523,000.00. Following the transaction, the insider now owns 33,158 shares of the company’s stock, valued at $1,734,163.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mario Spanicciati sold 7,765 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $54.04, for a total value of $419,620.60. Following the transaction, the insider now owns 19,512 shares in the company, valued at $1,054,428.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,941 shares of company stock worth $1,867,496. Company insiders own 15.77% of the company’s stock.

Several hedge funds have recently modified their holdings of BL. Squar Milner Financial Services LLC increased its holdings in Blackline by 661.2% during the third quarter. Squar Milner Financial Services LLC now owns 784 shares of the technology company’s stock valued at $37,000 after buying an additional 681 shares during the period. Aperio Group LLC bought a new stake in Blackline during the 2nd quarter valued at $38,000. FTB Advisors Inc. increased its holdings in shares of Blackline by 65.3% in the 2nd quarter. FTB Advisors Inc. now owns 911 shares of the technology company’s stock valued at $48,000 after acquiring an additional 360 shares during the period. Captrust Financial Advisors increased its holdings in shares of Blackline by 183.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,016 shares of the technology company’s stock valued at $54,000 after acquiring an additional 657 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Blackline by 3,971.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,140 shares of the technology company’s stock valued at $61,000 after acquiring an additional 1,112 shares during the period. Institutional investors and hedge funds own 91.37% of the company’s stock.

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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