Somewhat Favorable News Coverage Somewhat Unlikely to Affect Blackline (BL) Stock Price

News coverage about Blackline (NASDAQ:BL) has trended somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Blackline earned a news impact score of 0.16 on Accern’s scale. Accern also assigned media coverage about the technology company an impact score of 42.8549041623276 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

These are some of the news headlines that may have impacted Accern Sentiment’s rankings:

BL has been the topic of a number of recent research reports. SunTrust Banks, Inc. initiated coverage on Blackline in a research report on Monday, June 26th. They issued a “buy” rating and a $43.00 target price on the stock. BidaskClub raised Blackline from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Zacks Investment Research raised Blackline from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday, August 9th. Robert W. Baird set a $42.00 target price on Blackline and gave the company a “buy” rating in a research report on Sunday, October 1st. Finally, KeyCorp reaffirmed a “buy” rating and issued a $39.00 target price on shares of Blackline in a research report on Friday, September 22nd. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $36.67.

Shares of Blackline (NASDAQ:BL) traded down 0.44% during midday trading on Monday, hitting $34.09. The stock had a trading volume of 95,690 shares. Blackline has a 52 week low of $21.66 and a 52 week high of $40.28. The stock’s 50-day moving average price is $33.44 and its 200 day moving average price is $33.52. The company’s market cap is $1.79 billion.

Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.12. The company had revenue of $42.30 million during the quarter, compared to the consensus estimate of $41.45 million. Blackline had a negative net margin of 27.89% and a negative return on equity of 6.54%. The firm’s revenue for the quarter was up 45.9% on a year-over-year basis. On average, equities analysts forecast that Blackline will post ($0.17) earnings per share for the current year.

In related news, CEO Therese Tucker sold 20,000 shares of Blackline stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $29.12, for a total value of $582,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mario Spanicciati sold 2,125 shares of Blackline stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $30.00, for a total transaction of $63,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,875 shares of company stock worth $4,974,138. Corporate insiders own 22.35% of the company’s stock.

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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.

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