Blackline Inc (NYSE:BL)‘s stock had its “overweight” rating reiterated by Pacific Crest in a note issued to investors on Wednesday.

A number of other research firms have also commented on BL. William Blair started coverage on Blackline in a research note on Tuesday, November 22nd. They issued an “outperform” rating on the stock. Robert W. Baird started coverage on Blackline in a research note on Tuesday, November 22nd. They issued an “outperform” rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Blackline in a research note on Tuesday, November 22nd. They issued a “neutral” rating on the stock. Goldman Sachs Group Inc. started coverage on Blackline in a research note on Tuesday, November 22nd. They issued a “neutral” rating on the stock. Finally, Raymond James Financial Inc. started coverage on Blackline in a research note on Tuesday, November 22nd. 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 issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $31.67.

Analyst Recommendations for Blackline (NYSE:BL)

Blackline (NYSE:BL) opened at 28.30 on Wednesday. Blackline has a 52-week low of $21.66 and a 52-week high of $28.50. The firm’s 50-day moving average price is $24.93 and its 200 day moving average price is $24.93. The firm’s market cap is $1.16 billion.

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In other news, major shareholder Iconiq Strategic Partners, L.P purchased 825,000 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $14,025,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

About Blackline

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.

5 Day Chart for NYSE:BL

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