BlackLine (BL) Set to Announce Quarterly Earnings on Tuesday

BlackLine (NASDAQ:BL) will be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. The business had revenue of $155.73 million during the quarter, compared to analyst estimates of $154.24 million. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. On average, analysts expect BlackLine to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackLine Stock Performance

Shares of NASDAQ BL opened at $60.91 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37. The firm’s 50-day moving average price is $62.35 and its 200-day moving average price is $59.50. BlackLine has a 52-week low of $47.26 and a 52-week high of $69.31. The company has a market cap of $3.76 billion, a PE ratio of -609.10, a PEG ratio of 10.61 and a beta of 0.87.

Analyst Upgrades and Downgrades

BL has been the subject of a number of research reports. Wolfe Research started coverage on shares of BlackLine in a research note on Monday, March 18th. They set a “peer perform” rating for the company. Citigroup lowered their target price on BlackLine from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Piper Sandler upgraded BlackLine from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $62.00 in a research note on Tuesday, April 23rd. JMP Securities reiterated a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.20.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total value of $166,866.00. Following the completion of the sale, the executive now owns 104,682 shares in the company, valued at approximately $6,071,556. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total value of $166,866.00. Following the completion of the transaction, the executive now directly owns 104,682 shares in the company, valued at approximately $6,071,556. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin B. Thompson sold 4,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $632,500. The disclosure for this sale can be found here. Company insiders own 9.93% of the company’s stock.

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.