BidaskClub downgraded shares of Blackline Inc (NASDAQ:BL) from a buy rating to a hold rating in a research report released on Saturday.

A number of other analysts also recently issued reports on BL. Zacks Investment Research downgraded shares of Blackline from a buy rating to a hold rating in a report on Monday, July 10th. KeyCorp reaffirmed a buy rating and set a $39.00 price target on shares of Blackline in a report on Sunday, October 22nd. Finally, Robert W. Baird set a $42.00 price target on shares of Blackline and gave the company a buy rating in a report on Sunday, October 1st. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $36.53.

Blackline (BL) traded down $0.78 during trading hours on Friday, reaching $34.30. 508,367 shares of the company’s stock were exchanged, compared to its average volume of 172,955.

Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.18. The business had revenue of $45.90 million during the quarter, compared to analyst estimates of $44.07 million. Blackline had a negative net margin of 29.53% and a negative return on equity of 8.03%. Blackline’s revenue was up 42.5% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. equities analysts forecast that Blackline will post -0.42 EPS for the current year.

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In other Blackline news, insider Mario Spanicciati sold 10,625 shares of Blackline stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $30.31, for a total transaction of $322,043.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Therese Tucker sold 20,000 shares of Blackline stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $29.12, for a total transaction of $582,400.00. The disclosure for this sale can be found here. Insiders have sold 162,375 shares of company stock worth $5,191,185 in the last ninety days. Insiders own 22.35% of the company’s stock.

A hedge fund recently bought a new stake in Blackline stock. Conestoga Capital Advisors LLC purchased a new stake in shares of Blackline Inc (NASDAQ:BL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 637,175 shares of the technology company’s stock, valued at approximately $21,740,000. Conestoga Capital Advisors LLC owned approximately 1.21% of Blackline at the end of the most recent reporting period. 78.82% of the stock is currently owned by hedge funds and other institutional investors.

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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