According to Bloomberg, BlackLine, Inc. (NASDAQ:BL) has received an average rating of “Hold” from eleven analysts who are currently covering the stock. Out of these analysts, two have given a sell rating, six have assigned a hold rating, and three have provided a buy rating for the company. The average 12-month price target among these analysts is $60.27.
In recent news, Chief Revenue Officer (CRO) Mark Woodhams sold 558 shares of BlackLine’s stock on August 21st at an average price of $52.00 per share, resulting in a total value of $29,016.00. Following this sale, Woodhams now holds 94,083 shares of the company’s stock valued at $4,892,316. This transaction was disclosed in a legal filing with the Securities and Exchange Commission (SEC), which can be accessed through the SEC website.
Additionally, Director Thomas Unterman sold 750 shares of BlackLine’s stock on August 31st at an average price of $60.00 per share, amounting to a total transaction value of $45,000.00. After completing this transaction, Unterman now owns 54,470 shares in the company valued at $3,268,200. The details on this sale can also be found through the disclosure provided by the SEC. It is important to note that insiders own approximately 9.93% of the company’s stock.
BlackLine last reported its quarterly earnings results on August 8th. During that period, the technology company recorded earnings per share (EPS) of ($0.69), falling short of the consensus estimate of ($0.01) by ($0.68). The company generated revenue amounting to $144.57 million for the quarter compared to analyst estimates that had predicted revenue worth $143.86 million for BlackLine during this period. Moreover, BlackLine had a negative return on equity of 37.62% and a negative net margin of 9.25%. Based on the forecast made by research analysts, it is expected that the company will post an EPS of 0.39 for this year.
In conclusion, with analysts’ current average rating of “Hold” and an average price target of $60.27, investors should keep a close eye on BlackLine, Inc. as they make their investment decisions in the coming months.
BlackLine: Analyst Reports and Investor Sentiments
In recent months, BlackLine, a prominent technology company, has garnered the attention of research analysts and investors alike. Reports from various financial experts have shed light on the stock’s performance and provided valuable insights for potential investors.
One notable report came from BTIG Research, which lowered its target price on shares of BlackLine from $80.00 to $70.00. Despite this decrease, BTIG Research maintained its “buy” rating for the company. This suggests that while there may be some concerns surrounding the stock, there is still optimism regarding its future prospects.
Another report was issued by StockNews.com, who assumed coverage on BlackLine and assigned a “hold” rating to the stock. This implies a neutral stance on the company’s performance, neither recommending buying nor selling at the current time.
Morgan Stanley also entered the conversation with their own research report, giving BlackLine an “equal weight” rating. This indicates that they believe the stock will perform in line with industry peers, without any significant outperformance or underperformance.
On the downside, JPMorgan Chase & Co. lowered their price target on BlackLine shares from $50.00 to $47.00 and set an “underweight” rating on the stock. This suggests that JPMorgan Chase & Co. has concerns about the company’s performance and believes it may underperform compared to its competitors.
Lastly, JMP Securities decreased their target price on BlackLine from $87.00 to $81.00 but maintained a “market outperform” rating on the stock. While their revised target price indicates some cautionary sentiment, they still believe that BlackLine will outperform the overall market.
In addition to these analyst reports, institutional investors and hedge funds have also been making changes to their positions in BlackLine. For instance, Geode Capital Management LLC increased its holdings in BlackLine by 4.2%, indicating confidence in the long-term prospects of the company.
Hood River Capital Management LLC, on the other hand, initiated a new position in BlackLine during the first quarter, investing a significant amount of capital. This suggests that they see potential in the stock and believe it could generate positive returns over time.
Other institutional investors like Dfpg Investments LLC, Conestoga Capital Advisors LLC, and Brown Advisory Inc. have also made adjustments to their holdings in BlackLine, which further underscores the interest in this technology company from both institutional and individual investors.
Turning our attention to the stock’s performance, shares of BlackLine currently trade at $55.47 on NASDAQ BL. The company has a market capitalization of $3.38 billion and trades at a price-to-earnings (P/E) ratio of -72.04. The negative P/E ratio may raise eyebrows among investors, but it is worth noting that this metric can be influenced by various factors impacting earnings.
BlackLine’s beta of 0.86 indicates that the stock is less volatile than the overall market. This may offer some stability for risk-averse investors who prefer steady returns rather than excessive fluctuations in their investment value.
Looking at their financials, BlackLine boasts a quick ratio and current ratio of 3.62 each, indicating healthy liquidity levels to cover short-term obligations promptly. However, it is worth mentioning that the company has a relatively high debt-to-equity ratio of 7.87.
Finally, considering the historical stock performance, BlackLine has experienced both highs and lows over the past year. The stock traded between its 52-week low of $48.22 and its 52-week high of $77.90 during this period.
As we approach October 2, 2023, it will be interesting to observe how these analyst reports and investor sentiments play out for BlackLine moving forward. With varying opinions from research analysts and ongoing changes in institutional holdings, the future prospects of this technology company remain uncertain.