Blackline (BL) Getting Somewhat Positive News Coverage, Report Finds
Media headlines about Blackline (NYSE:BL) have been trending somewhat positive recently, according to Accern. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Blackline earned a coverage optimism score of 0.07 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 46.4174428762476 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the headlines that may have effected Accern Sentiment Analysis’s rankings:
- Mario Spanicciati Sells 8,500 Shares of Blackline Inc (BL) Stock (americanbankingnews.com)
- Blackline Inc (BL) Cut to Hold at Zacks Investment Research (americanbankingnews.com)
- BlackLine Named ‘Best Place To Work In Los Angeles’ For 5th Consecutive Year (finance.yahoo.com)
- Blackline : Association for Corporate Growth 101 names board member (4-traders.com)
- Critical Comparison: Blackline (BL) and Evolving Systems (EVOL) (americanbankingnews.com)
Shares of Blackline (NYSE BL) traded up 0.755% during mid-day trading on Wednesday, reaching $30.025. The company had a trading volume of 34,362 shares. The company’s market capitalization is $1.58 billion. Blackline has a one year low of $21.66 and a one year high of $40.28. The company has a 50 day moving average price of $34.30 and a 200 day moving average price of $32.25.
Blackline (NYSE:BL) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. The firm had revenue of $42.30 million for the quarter, compared to analyst estimates of $41.45 million. Blackline had a negative net margin of 23.91% and a negative return on equity of 13.96%. The firm’s revenue for the quarter was up 45.9% compared to the same quarter last year. On average, analysts anticipate that Blackline will post ($0.17) EPS for the current year.
A number of brokerages have commented on BL. Zacks Investment Research cut Blackline from a “buy” rating to a “hold” rating in a research note on Monday. SunTrust Banks, Inc. started coverage on Blackline in a report on Monday, June 26th. They issued a “buy” rating and a $43.00 target price on the stock. JMP Securities started coverage on Blackline in a report on Monday, June 26th. They issued a “market perform” rating on the stock. ValuEngine upgraded Blackline from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, William Blair restated an “outperform” rating on shares of Blackline in a report on Monday, May 8th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.78.
In other Blackline news, insider Mario Spanicciati sold 4,250 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $40.00, for a total value of $170,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Therese Tucker sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $29.12, for a total transaction of $582,400.00. The disclosure for this sale can be found here. Insiders have sold 186,250 shares of company stock worth $6,298,274 over the last three months.
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.
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