Blackline Inc (BL) Given Average Recommendation of “Buy” by Brokerages
Shares of Blackline Inc (NYSE:BL) have earned an average recommendation of “Buy” from the eleven research firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $34.94.
Several research firms recently weighed in on BL. Zacks Investment Research cut Blackline from a “buy” rating to a “hold” rating in a research note on Monday. SunTrust Banks, Inc. began coverage on Blackline in a research note on Monday, June 26th. They set a “buy” rating and a $43.00 target price for the company. JMP Securities began coverage on Blackline in a research note on Monday, June 26th. They set a “market perform” rating for the company. ValuEngine upgraded Blackline from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, William Blair restated an “outperform” rating on shares of Blackline in a research note on Monday, May 8th.
In other Blackline news, CEO Therese Tucker sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $29.12, for a total value of $582,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mario Spanicciati sold 4,250 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $40.00, for a total value of $170,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,250 shares of company stock valued at $6,298,274.
Large investors have recently modified their holdings of the stock. Fortaleza Asset Management Inc. purchased a new stake in shares of Blackline during the second quarter worth $112,000. Royal Bank of Canada boosted its stake in shares of Blackline by 308.6% in the second quarter. Royal Bank of Canada now owns 3,955 shares of the technology company’s stock worth $142,000 after buying an additional 2,987 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Blackline by 26.7% in the first quarter. Nationwide Fund Advisors now owns 5,776 shares of the technology company’s stock worth $172,000 after buying an additional 1,217 shares in the last quarter. American International Group Inc. purchased a new stake in shares of Blackline during the first quarter worth $173,000. Finally, Nicholas Company Inc. purchased a new stake in shares of Blackline during the second quarter worth $290,000.
Shares of Blackline (NYSE BL) traded down 0.40% on Tuesday, reaching $29.80. 262,761 shares of the company were exchanged. The company’s 50-day moving average is $34.30 and its 200-day moving average is $32.25. The company’s market capitalization is $1.56 billion. Blackline has a 52 week low of $21.66 and a 52 week high of $40.28.
Blackline (NYSE:BL) last posted its earnings results on Thursday, August 3rd. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.12. The firm had revenue of $42.30 million during the quarter, compared to analysts’ expectations of $41.45 million. Blackline had a negative return on equity of 13.96% and a negative net margin of 23.91%. The business’s revenue was up 45.9% on a year-over-year basis. On average, equities analysts expect that Blackline will post ($0.17) EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece of content was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/29/blackline-inc-bl-given-average-recommendation-of-buy-by-brokerages.html.
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. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
Receive News & Stock Ratings for Blackline Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackline Inc and related stocks with our FREE daily email newsletter.