Blackline’s (BL) Overweight Rating Reaffirmed at Pacific Crest
Blackline Inc (NYSE:BL)‘s stock had its “overweight” rating reiterated by Pacific Crest in a report released on Wednesday.
Other equities analysts also recently issued reports about the stock. Goldman Sachs Group Inc. started coverage on shares of Blackline in a research note on Tuesday, November 22nd. They set a “neutral” rating for the company. JPMorgan Chase & Co. started coverage on shares of Blackline in a research note on Tuesday, November 22nd. They set a “neutral” rating for the company. William Blair started coverage on shares of Blackline in a research note on Tuesday, November 22nd. They set an “outperform” rating for the company. Raymond James Financial Inc. started coverage on shares of Blackline in a research note on Tuesday, November 22nd. They set an “outperform” rating and a $31.00 price objective for the company. Finally, Robert W. Baird started coverage on shares of Blackline in a research note on Tuesday, November 22nd. They issued an “outperform” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.67.
Shares of Blackline (NYSE:BL) opened at 28.30 on Wednesday. Blackline has a 12-month low of $21.66 and a 12-month high of $28.50. The firm’s 50-day moving average price is $24.93 and its 200-day moving average price is $24.93. The firm’s market capitalization is $1.16 billion.
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In other news, major shareholder Iconiq Strategic Partners, L.P bought 825,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $14,025,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. The Company’s platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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