Blackline Inc (BL) Given a $42.00 Price Target at Robert W. Baird
Blackline Inc (NASDAQ:BL) has been given a $42.00 target price by investment analysts at Robert W. Baird in a research note issued to investors on Sunday. The firm currently has a “buy” rating on the technology company’s stock. Robert W. Baird’s target price would suggest a potential upside of 23.09% from the company’s previous close.
A number of other equities analysts also recently commented on the company. BidaskClub upgraded Blackline from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. KeyCorp reiterated a “buy” rating and set a $39.00 target price on shares of Blackline in a report on Friday, September 22nd. ValuEngine upgraded Blackline from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Zacks Investment Research raised shares of Blackline from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. began coverage on shares of Blackline in a research report on Monday, June 26th. They set a “buy” rating and a $43.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $36.67.
Blackline (NASDAQ BL) traded down 0.23% during mid-day trading on Friday, reaching $34.04. The company had a trading volume of 165,675 shares. The firm’s market capitalization is $1.79 billion. Blackline has a 12-month low of $21.66 and a 12-month high of $36.53. The firm has a 50-day moving average price of $34.52 and a 200 day moving average price of $34.52.
Blackline (NASDAQ:BL) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. Blackline had a negative net margin of 27.89% and a negative return on equity of 6.54%. The firm had revenue of $42.30 million during the quarter, compared to the consensus estimate of $41.45 million. Blackline’s revenue was up 45.9% on a year-over-year basis. Analysts expect that Blackline will post ($0.17) EPS for the current year.
In other news, insider Mario Spanicciati sold 10,625 shares of Blackline stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $33.01, for a total value of $350,731.25. 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 stock in a transaction that occurred on Wednesday, August 23rd. The stock was 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 sold 160,250 shares of company stock valued at $5,312,863 over the last 90 days. 22.35% of the stock is currently owned by insiders.
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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