Shares of Blackline Inc (NASDAQ:BL) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $36.78.

Several equities analysts have recently weighed in on the company. KeyCorp restated a “buy” rating and issued a $39.00 price objective on shares of Blackline in a report on Sunday, October 22nd. BidaskClub upgraded Blackline from a “sell” rating to a “hold” rating in a report on Saturday, December 16th. Robert W. Baird set a $42.00 price objective on Blackline and gave the company a “buy” rating in a report on Sunday, October 1st. JMP Securities upgraded Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. Finally, SunTrust Banks restated a “buy” rating and issued a $42.00 price objective on shares of Blackline in a report on Friday, November 3rd.

Blackline (NASDAQ BL) opened at $33.62 on Friday. Blackline has a 1-year low of $26.46 and a 1-year high of $40.28.

Blackline (NASDAQ:BL) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.18. The company had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $44.07 million. Blackline had a negative return on equity of 8.00% and a negative net margin of 29.53%. Blackline’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. analysts anticipate that Blackline will post -0.42 EPS for the current year.

In related news, CEO Therese Tucker sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $35.31, for a total value of $70,620.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mario Spanicciati sold 12,750 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $35.18, for a total transaction of $448,545.00. The disclosure for this sale can be found here. Insiders sold a total of 4,565,750 shares of company stock valued at $155,699,235 over the last quarter. 22.35% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Fortaleza Asset Management Inc. lifted its position in Blackline by 98.2% during the third quarter. Fortaleza Asset Management Inc. now owns 6,215 shares of the technology company’s stock worth $212,000 after acquiring an additional 3,080 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Blackline during the third quarter worth approximately $246,000. First Republic Investment Management Inc. acquired a new stake in Blackline during the third quarter worth approximately $257,000. PEAK6 Investments L.P. acquired a new stake in Blackline during the third quarter worth approximately $267,000. Finally, American International Group Inc. lifted its position in Blackline by 53.5% during the third quarter. American International Group Inc. now owns 10,455 shares of the technology company’s stock worth $357,000 after acquiring an additional 3,646 shares during the last quarter. Hedge funds and other institutional investors own 79.87% of the company’s stock.

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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.

Analyst Recommendations for Blackline (NASDAQ:BL)

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