Blackline (NASDAQ:BL) had its price objective lifted by stock analysts at KeyCorp from $46.00 to $52.00 in a research report issued on Monday. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target would indicate a potential upside of 15.97% from the company’s current price.
The analysts wrote, “We view BL as a core cloud software company to own as it is just starting to scratch the surface of an $18.5B TAM. We are raising our PT to $52 using discounted cash flow assumptions.””
BL has been the subject of a number of other research reports. BidaskClub upgraded Blackline from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Zacks Investment Research cut Blackline from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Robert W. Baird restated a “buy” rating on shares of Blackline in a report on Friday, February 16th. JMP Securities upgraded Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. Finally, JPMorgan Chase & Co. cut Blackline from a “neutral” rating to an “underweight” rating and set a $27.00 price objective for the company. in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $38.95.
Blackline (NASDAQ:BL) last released its earnings results on Thursday, February 15th. The technology company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The firm had revenue of $50.23 million for the quarter, compared to the consensus estimate of $47.69 million. Blackline had a negative return on equity of 6.53% and a negative net margin of 21.50%. The company’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. equities analysts forecast that Blackline will post -0.28 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Blackline in the 4th quarter worth $175,000. Wolverine Trading LLC purchased a new stake in shares of Blackline in the 3rd quarter worth $246,000. First Republic Investment Management Inc. purchased a new stake in shares of Blackline in the 3rd quarter worth $257,000. MetLife Investment Advisors LLC purchased a new stake in shares of Blackline in the 4th quarter worth $248,000. Finally, PEAK6 Investments L.P. purchased a new stake in shares of Blackline in the 3rd quarter worth $267,000. Institutional investors and hedge funds own 79.93% 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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