BlackLine (BL) Receives a Buy from Oppenheimer

Oppenheimer analyst Brian Schwartz assigned a Buy rating to BlackLine (BL) today and set a price target of $160.00. The company’s shares closed last Tuesday at $110.13.

According to, Schwartz is a top 25 analyst with an average return of 30.5% and a 75.1% success rate. Schwartz covers the Technology sector, focusing on stocks such as Qualtrics International, Holdings, and RingCentral.

Currently, the analyst consensus on BlackLine is a Moderate Buy with an average price target of $152.25, a 39.7% upside from current levels. In a report issued on February 23, Robert W. Baird also maintained a Buy rating on the stock with a $150.00 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.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BL in relation to earlier this year.

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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.

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