Blackline Inc (BL) Now Covered by Analysts at William Blair
A number of other research firms have also recently commented on BL. Pacific Crest began coverage on Blackline in a research report on Tuesday. They set an “overweight” rating and a $31.00 target price on the stock. Robert W. Baird began coverage on Blackline in a report on Tuesday. They issued an “outperform” rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Blackline in a report on Tuesday. They issued a “neutral” rating on the stock. Goldman Sachs Group Inc. began coverage on Blackline in a report on Tuesday. They issued a “neutral” rating on the stock. Finally, Raymond James Financial Inc. began coverage on Blackline in a report on Tuesday. They issued an “outperform” rating and a $31.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.67.
Shares of Blackline (NYSE:BL) opened at 27.75 on Tuesday. The stock’s market capitalization is $1.13 billion. Blackline has a 12 month low of $21.66 and a 12 month high of $28.50. The firm’s 50-day moving average price is $24.29 and its 200-day moving average price is $24.29.
In other Blackline news, major shareholder Iconiq Strategic Partners, L.P bought 825,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were acquired at an average cost of $17.00 per share, with a total value of $14,025,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
Blackline Company Profile
BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. The Company’s platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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