BlackLine (BL) Received its Third Buy in a Row
After JMP Securities and KeyBanc gave BlackLine (NASDAQ: BL) a Buy rating last month, the company received another Buy, this time from Robert W. Baird. Analyst Robert Oliver maintained a Buy rating on BlackLine yesterday and set a price target of $150.00. The company’s shares closed last Tuesday at $123.00.
According to TipRanks.com, Oliver is a top 100 analyst with an average return of 39.5% and a 84.1% success rate. Oliver covers the Technology sector, focusing on stocks such as Aspen Technology, SolarWinds, and PagerDuty.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BlackLine with a $152.57 average price target, a 27.0% upside from current levels. In a report issued on February 12, Oppenheimer also assigned a Buy rating to the stock with a $160.00 price target.
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Based on BlackLine’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $95.71 million and GAAP net loss of $16.99 million. In comparison, last year the company earned revenue of $80.26 million and had a GAAP net loss of $9.19 million.
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BlackLine, Inc. operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance. The company was founded by Therese Tucker in May 2001 and is headquartered in Woodland Hills, CA.