Oppenheimer Reiterates a Buy Rating on BlackLine (BL)

In a report released today, Koji Ikeda from Oppenheimer reiterated a Buy rating on BlackLine (BLResearch Report), with a price target of $79.00. The company’s shares closed last Monday at $65.00, close to its 52-week high of $65.32.

According to TipRanks.com, Ikeda is a top 100 analyst with an average return of 49.3% and a 96.1% success rate. Ikeda covers the Technology sector, focusing on stocks such as Coupa Software, SPS Commerce, and Liveperson.

BlackLine has an analyst consensus of Moderate Buy, with a price target consensus of $69.33, which is a 9.8% upside from current levels. In a report issued on February 11, JMP Securities also maintained a Buy rating on the stock with a $69.00 price target.

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The company has a one-year high of $65.32 and a one-year low of $42.23. Currently, BlackLine has an average volume of 372.5K.

Based on the recent corporate insider activity of 75 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.