BlackLine (BL) to Release Quarterly Earnings on Thursday

BlackLine (NASDAQ:BL) is set to issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.52 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The firm had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. During the same quarter in the prior year, the company posted ($0.69) earnings per share. BlackLine’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts expect BlackLine to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackLine Price Performance

Shares of NASDAQ:BL traded down $0.02 on Tuesday, reaching $55.09. 43,116 shares of the company were exchanged, compared to its average volume of 880,732. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. BlackLine has a 1-year low of $43.37 and a 1-year high of $69.31. The company has a 50-day moving average of $53.19 and a 200-day moving average of $51.61. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 61.23, a price-to-earnings-growth ratio of 13.60 and a beta of 0.90.

Insider Buying and Selling at BlackLine

In related news, insider Karole Morgan-Prager sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 115,424 shares of the company’s stock, valued at $5,771,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mark Partin sold 85,308 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $54.84, for a total transaction of $4,678,290.72. Following the sale, the chief financial officer now owns 226,844 shares in the company, valued at $12,440,124.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karole Morgan-Prager sold 10,000 shares of BlackLine stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 115,424 shares of the company’s stock, valued at approximately $5,771,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,873 shares of company stock worth $8,340,243 in the last ninety days. 9.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on BL. Morgan Stanley upgraded BlackLine from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $70.00 in a report on Monday, September 30th. Truist Financial upped their target price on shares of BlackLine from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a research report on Monday, July 15th. BTIG Research decreased their price target on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Robert W. Baird reduced their price objective on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, BlackLine has an average rating of “Hold” and an average target price of $61.20.

About BlackLine

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.