In a report released today, Brian Schwartz from Oppenheimer assigned a Buy rating to BlackLine (BL), with a price target of $160.00. The company’s shares closed last Thursday at $150.37, close to its 52-week high of $154.61.
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 36.9% and a 81.3% success rate. Schwartz covers the Technology sector, focusing on stocks such as Bill.com Holdings, RingCentral, and Salesforce.
Currently, the analyst consensus on BlackLine is a Moderate Buy with an average price target of $146.00, a -2.4% downside from current levels. In a report issued on February 2, JMP Securities also maintained a Buy rating on the stock with a $163.00 price target.
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Based on BlackLine’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $90.16 million and GAAP net loss of $8.75 million. In comparison, last year the company earned revenue of $74.93 million and had a GAAP net loss of $9.21 million.
Based on the recent corporate insider activity of 83 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.