Blackline Inc (BL) Earns Buy Rating from SunTrust Banks, Inc.
Blackline Inc (NASDAQ:BL)‘s stock had its “buy” rating restated by analysts at SunTrust Banks, Inc. in a research note issued to investors on Friday. They currently have a $42.00 price objective on the technology company’s stock. SunTrust Banks, Inc.’s price objective indicates a potential upside of 22.45% from the stock’s previous close.
BL has been the topic of several other research reports. Zacks Investment Research cut Blackline from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub upgraded Blackline from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 14th. KeyCorp reiterated a “buy” rating and set a $39.00 price objective on shares of Blackline in a report on Sunday, October 22nd. Finally, Robert W. Baird set a $42.00 price objective on Blackline and gave the company a “buy” rating in a report on Sunday, October 1st. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $36.53.
Blackline (BL) opened at $34.30 on Friday.
Blackline (NASDAQ:BL) last issued its earnings results on Thursday, November 2nd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.18. Blackline had a negative return on equity of 8.03% and a negative net margin of 29.53%. The firm had revenue of $45.90 million for the quarter, compared to analysts’ expectations of $44.07 million. During the same quarter last year, the business earned ($0.05) earnings per share. The company’s revenue was up 42.5% compared to the same quarter last year. equities research analysts predict that Blackline will post -0.42 EPS for the current fiscal year.
WARNING: “Blackline Inc (BL) Earns Buy Rating from SunTrust Banks, Inc.” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.americanbankingnews.com/2017/11/04/blackline-inc-bl-earns-buy-rating-from-suntrust-banks-inc.html.
In other news, CEO Therese Tucker sold 20,000 shares of Blackline stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $29.12, for a total transaction of $582,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Mario Spanicciati sold 12,750 shares of Blackline stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $35.05, for a total value of $446,887.50. The disclosure for this sale can be found here. Insiders have sold a total of 162,375 shares of company stock worth $5,191,185 in the last ninety days. Insiders own 22.35% of the company’s stock.
An institutional investor recently raised its position in Blackline stock. Fortaleza Asset Management Inc. lifted its holdings in shares of Blackline Inc (NASDAQ:BL) by 98.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,215 shares of the technology company’s stock after acquiring an additional 3,080 shares during the quarter. Fortaleza Asset Management Inc.’s holdings in Blackline were worth $212,000 as of its most recent SEC filing. Institutional investors own 78.82% of the company’s stock.
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.
Receive News & Ratings for Blackline Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackline Inc and related companies with MarketBeat.com's FREE daily email newsletter.