Blackline Inc (NASDAQ:BL) Receives Consensus Rating of “Hold” from Analysts
Blackline Inc (NASDAQ:BL) has been given an average rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $50.67.
A number of analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Green Plains Partners from a “buy” rating to a “hold” rating in a research report on Friday. Goldman Sachs Group cut shares of LATAM Airlines Group from a “neutral” rating to a “sell” rating and raised their target price for the company from $9.20 to $9.30 in a research note on Tuesday, July 2nd. Finally, BidaskClub cut shares of YY from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd.
In other news, CFO Mark Partin sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 29,500 shares of company stock worth $1,510,695. Insiders own 15.77% of the company’s stock.
NASDAQ:BL traded up $0.03 during trading hours on Tuesday, hitting $45.66. 15,836 shares of the company traded hands, compared to its average volume of 424,422. The company has a market capitalization of $2.60 billion, a PE ratio of -176.13 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s 50-day moving average price is $50.27. Blackline has a twelve month low of $34.01 and a twelve month high of $58.11.
Blackline (NASDAQ:BL) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. Blackline had a negative net margin of 12.15% and a negative return on equity of 5.02%. The business had revenue of $64.13 million for the quarter, compared to analyst estimates of $63.33 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, analysts expect that Blackline will post -0.29 EPS for the current year.
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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