07/10/2022

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Recent Investment Analysts’ Ratings Changes for BlackLine (BL)

BlackLine (NASDAQ: BL) recently received a number of ratings updates from brokerages and research firms:

  • 4/20/2022 – BlackLine had its price target lowered by analysts at JMP Securities from $145.00 to $112.00. They now have a “market outperform” rating on the stock.
  • 4/13/2022 – BlackLine was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 4/13/2022 – BlackLine was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “BlackLine, Inc. is a provider of cloud-based solutions for Finance & Accounting which centralize and streamline financial close operations and other key F&A processes for midsize and large organizations. BlackLine, Inc. is headquartered in Los Angeles, California. “
  • 4/6/2022 – BlackLine was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “BlackLine, Inc. is a provider of cloud-based solutions for Finance & Accounting which centralize and streamline financial close operations and other key F&A processes for midsize and large organizations. BlackLine, Inc. is headquartered in Los Angeles, California. “
  • 3/31/2022 – BlackLine was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “BlackLine, Inc. is a provider of cloud-based solutions for Finance & Accounting which centralize and streamline financial close operations and other key F&A processes for midsize and large organizations. BlackLine, Inc. is headquartered in Los Angeles, California. “
  • 3/31/2022 – BlackLine is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/21/2022 – BlackLine was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “BlackLine, Inc. is a provider of cloud-based solutions for Finance & Accounting which centralize and streamline financial close operations and other key F&A processes for midsize and large organizations. BlackLine, Inc. is headquartered in Los Angeles, California. “
  • 3/16/2022 – BlackLine was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 3/15/2022 – BlackLine was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “BlackLine, Inc. is a provider of cloud-based solutions for Finance & Accounting which centralize and streamline financial close operations and other key F&A processes for midsize and large organizations. BlackLine, Inc. is headquartered in Los Angeles, California. “
  • 3/8/2022 – BlackLine was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 2/28/2022 – BlackLine was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Shares of NASDAQ:BL opened at $66.27 on Friday. BlackLine, Inc. has a twelve month low of $65.15 and a twelve month high of $135.00. The firm has a market cap of $3.93 billion, a PE ratio of -33.64 and a beta of 0.90. The company has a debt-to-equity ratio of 3.43, a quick ratio of 4.18 and a current ratio of 4.18. The business has a fifty day moving average of $71.97 and a 200-day moving average of $95.36.

BlackLine (NASDAQ:BLGet Rating) last announced its earnings results on Thursday, February 10th. The technology company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.03). The business had revenue of $115.30 million during the quarter, compared to analyst estimates of $113.55 million. BlackLine had a negative net margin of 27.05% and a negative return on equity of 7.63%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) earnings per share. On average, analysts anticipate that BlackLine, Inc. will post -1.14 EPS for the current fiscal year.

In related news, Director Thomas Unterman sold 500 shares of BlackLine stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $71.13, for a total value of $35,565.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Peter Hirsch sold 3,427 shares of BlackLine stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $71.13, for a total value of $243,762.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,427 shares of company stock valued at $316,003. Corporate insiders own 9.71% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Riverbridge Partners LLC lifted its holdings in shares of BlackLine by 3.2% during the 1st quarter. Riverbridge Partners LLC now owns 2,234,988 shares of the technology company’s stock valued at $163,646,000 after purchasing an additional 69,791 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of BlackLine by 12.1% during the 4th quarter. Alliancebernstein L.P. now owns 1,471,318 shares of the technology company’s stock valued at $152,340,000 after purchasing an additional 159,265 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of BlackLine by 1.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,407,327 shares of the technology company’s stock valued at $145,715,000 after purchasing an additional 24,365 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of BlackLine by 2.1% during the 4th quarter. Baillie Gifford & Co. now owns 1,386,396 shares of the technology company’s stock valued at $143,548,000 after purchasing an additional 28,993 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of BlackLine by 47.1% during the 1st quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock valued at $52,372,000 after purchasing an additional 361,839 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists.

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