Blackline Inc (NASDAQ:BL) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

A number of other equities analysts also recently commented on the stock. ValuEngine upgraded shares of Blackline from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Blackline from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Wednesday, August 9th. SunTrust Banks, Inc. started coverage on shares of Blackline in a report on Monday, June 26th. They issued a “buy” rating and a $43.00 target price for the company. Finally, JMP Securities started coverage on shares of Blackline in a report on Monday, June 26th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Blackline presently has an average rating of “Buy” and a consensus price target of $34.78.

Blackline (NASDAQ:BL) traded down 2.28% during mid-day trading on Thursday, hitting $33.88. 881,490 shares of the company traded hands. The firm’s market capitalization is $1.78 billion. Blackline has a one year low of $21.66 and a one year high of $36.53. The firm has a 50 day moving average of $34.88 and a 200 day moving average of $32.16.

Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.12. The firm had revenue of $42.30 million during the quarter, compared to the consensus estimate of $41.45 million. Blackline had a negative return on equity of 13.96% and a negative net margin of 23.91%. Blackline’s revenue was up 45.9% compared to the same quarter last year. Equities research analysts expect that Blackline will post ($0.17) earnings per share for the current fiscal year.

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In related news, CEO Therese Tucker sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $29.12, for a total value of $582,400.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mario Spanicciati sold 12,750 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $36.40, for a total value of $464,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,750 shares of company stock worth $5,067,935.

Blackline Company Profile

BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.

Analyst Recommendations for Blackline (NASDAQ:BL)

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