Blackline (NASDAQ:BL) Price Target Raised to $69.00
Blackline (NASDAQ:BL) had its price objective upped by JMP Securities from $60.00 to $69.00 in a report published on Tuesday, The Fly reports. The firm currently has a positive rating on the technology company’s stock.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Blackline from a buy rating to a hold rating in a research note on Wednesday, October 23rd. Oppenheimer raised Blackline from a market perform rating to an outperform rating and set a $75.00 target price on the stock in a report on Friday, January 17th. TheStreet raised Blackline from a d+ rating to a c rating in a report on Monday, October 28th. BidaskClub raised Blackline from a buy rating to a strong-buy rating in a report on Saturday, January 18th. Finally, Piper Jaffray Companies started coverage on Blackline in a report on Monday, November 25th. They issued a neutral rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $62.00.
BL traded up $3.89 on Tuesday, hitting $68.89. 47,301 shares of the stock were exchanged, compared to its average volume of 442,648. Blackline has a 12 month low of $42.23 and a 12 month high of $65.32. The business has a 50-day moving average of $58.28 and a two-hundred day moving average of $52.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.87 and a quick ratio of 3.87. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -123.39 and a beta of 0.73.
In other Blackline news, COO Marc Huffman sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $52.60, for a total value of $263,000.00. Following the transaction, the chief operating officer now directly owns 199,419 shares of the company’s stock, valued at $10,489,439.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Morgan Karole Prager sold 4,130 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $55.00, for a total value of $227,150.00. Following the transaction, the insider now owns 27,288 shares in the company, valued at approximately $1,500,840. The disclosure for this sale can be found here. Insiders have sold a total of 140,811 shares of company stock valued at $7,860,972 over the last three months. Corporate insiders own 15.77% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Squar Milner Financial Services LLC increased its stake in shares of Blackline by 661.2% in the third quarter. Squar Milner Financial Services LLC now owns 784 shares of the technology company’s stock valued at $37,000 after purchasing an additional 681 shares during the period. Carroll Financial Associates Inc. increased its position in Blackline by 414.2% during the fourth quarter. Carroll Financial Associates Inc. now owns 977 shares of the technology company’s stock worth $50,000 after acquiring an additional 787 shares during the period. FTB Advisors Inc. increased its position in Blackline by 64.4% during the third quarter. FTB Advisors Inc. now owns 1,498 shares of the technology company’s stock worth $71,000 after acquiring an additional 587 shares during the period. NEXT Financial Group Inc increased its position in Blackline by 16.9% during the third quarter. NEXT Financial Group Inc now owns 1,894 shares of the technology company’s stock worth $91,000 after acquiring an additional 274 shares during the period. Finally, Signaturefd LLC bought a new position in Blackline during the fourth quarter worth about $98,000. Institutional investors and hedge funds own 91.33% of the company’s stock.
Blackline Company Profile
BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.
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