2 weeks Ago By ABMN Staff
Morgan Stanley upgraded shares of BlackLine ( NASDAQ:BL – Free Report ) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage currently has $70.00 price objective on the technology company’s stock, up from their prior price objective of $60.
00. Other equities research analysts have also issued reports about the stock. Citigroup cut their price target on shares of BlackLine from $62.
00 to $54.00 and set a neutral rating on the stock in a research note on Friday, June 28th. Robert W.
Baird decreased their price objective on shares of BlackLine from $72.00 to $65.00 and set an outperform rating on the stock in a report on Wednesday, August 7th.
JPMorgan Chase & Co. reduced their price target on shares of BlackLine from $50.00 to $47.
00 and set an underweight rating on the stock in a report on Wednesday, August 7th. JMP Securities reaffirmed a market outperform rating and issued a $81.00 price target on shares of BlackLine in a report on Monday, July 15th.
Finally, Piper Sandler reduced their price target on shares of BlackLine from $55.00 to $51.00 and set a neutral rating on the stock in a report on Wednesday, August 7th.
Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $59.
90. Check Out Our Latest Stock Report on BL BlackLine Stock Up 4.3 % BlackLine ( NASDAQ:BL – Get Free Report ) last posted its quarterly earnings data on Tuesday, August 6th.
The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.
08. The firm had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $158.
21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.
96%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis.
During the same quarter last year, the company posted ($0.69) EPS. As a group, analysts forecast that BlackLine will post 0.
94 earnings per share for the current fiscal year. Insider Activity In other BlackLine news, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction on Friday, September 27th. The shares were sold at an average price of $53.
00, for a total transaction of $299,344.00. Following the sale, the chief financial officer now owns 226,844 shares in the company, valued at $12,022,732.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . In related news, CRO Mark Woodhams sold 1,387 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $51.
70, for a total value of $71,707.90. Following the sale, the executive now directly owns 97,582 shares in the company, valued at approximately $5,044,989.
40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Also, CFO Mark Partin sold 5,648 shares of the stock in a transaction that occurred on Friday, September 27th.
The shares were sold at an average price of $53.00, for a total transaction of $299,344.00.
Following the completion of the sale, the chief financial officer now owns 226,844 shares in the company, valued at $12,022,732. The disclosure for this sale can be found here . Insiders have sold a total of 22,413 shares of company stock valued at $1,150,762 over the last 90 days.
9.93% of the stock is currently owned by company insiders. Hedge Funds Weigh In On BlackLine Several hedge funds have recently made changes to their positions in BL.
Quarry LP acquired a new stake in shares of BlackLine during the second quarter worth $32,000. YHB Investment Advisors Inc. bought a new stake in shares of BlackLine during the first quarter worth about $33,000.
EntryPoint Capital LLC bought a new stake in shares of BlackLine during the first quarter worth about $36,000. 1620 Investment Advisors Inc. bought a new stake in shares of BlackLine during the second quarter worth about $64,000.
Finally, Covestor Ltd boosted its holdings in BlackLine by 29.4% in the first quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after acquiring an additional 340 shares during the last quarter.
95.13% of the stock is owned by institutional investors. BlackLine Company Profile ( Get Free Report ) 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 individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data. Featured Articles Receive News & Ratings for BlackLine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackLine and related companies with MarketBeat.com's FREE daily email newsletter .
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