BidaskClub upgraded shares of BLACKLINE INC (NASDAQ:BL) from a buy rating to a strong-buy rating in a report published on Thursday morning.

A number of other research firms have also issued reports on BL. JMP Securities started coverage on BLACKLINE INC in a report on Monday, June 26th. They set a market perform rating on the stock. Zacks Investment Research raised BLACKLINE INC from a hold rating to a buy rating and set a $34.00 target price on the stock in a report on Wednesday, August 9th. SunTrust Banks, Inc. started coverage on BLACKLINE INC in a report on Monday, June 26th. They set a buy rating and a $43.00 target price on the stock. Finally, ValuEngine raised BLACKLINE INC from a sell rating to a hold rating in a report on Tuesday, June 20th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. BLACKLINE INC currently has a consensus rating of Buy and an average target price of $34.78.

BLACKLINE INC (NASDAQ:BL) opened at 33.88 on Thursday. BLACKLINE INC has a 1-year low of $21.66 and a 1-year high of $40.28. The stock’s 50 day moving average is $34.88 and its 200-day moving average is $32.16. The firm’s market capitalization is $1.78 billion.

BLACKLINE INC (NASDAQ:BL) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. The company had revenue of $42.30 million for the quarter, compared to analyst estimates of $41.45 million. BLACKLINE INC had a negative return on equity of 6.54% and a negative net margin of 27.89%. The firm’s revenue for the quarter was up 45.9% compared to the same quarter last year. Equities research analysts forecast that BLACKLINE INC will post ($0.17) EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/18/blackline-inc-bl-stock-rating-upgraded-by-bidaskclub.html.

In related news, insider Mario Spanicciati sold 4,250 shares of BLACKLINE INC stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $40.00, for a total value of $170,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Therese Tucker sold 20,000 shares of BLACKLINE INC stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $29.12, for a total value of $582,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 151,750 shares of company stock worth $5,067,935. 22.35% of the stock is owned by corporate insiders.

About BLACKLINE INC

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.

Analyst Recommendations for BLACKLINE INC (NASDAQ:BL)

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.