BlackLine (BL) Set to Announce Quarterly Earnings on Thursday

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

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $158.21 million. During the same period in the prior year, the company earned ($0.69) EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts expect BlackLine to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackLine Trading Up 1.6 %

BL stock opened at $55.99 on Wednesday. The firm has a market cap of $3.48 billion, a PE ratio of 62.21, a price-to-earnings-growth ratio of 13.60 and a beta of 0.90. The firm has a fifty day moving average price of $53.31 and a 200 day moving average price of $51.60. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95. BlackLine has a fifty-two week low of $43.37 and a fifty-two week high of $69.31.

Analyst Ratings Changes

A number of analysts have recently weighed in on BL shares. Piper Sandler reduced their target price on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a research note on Monday, July 15th. Truist Financial lifted their target price on BlackLine from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, BTIG Research decreased their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.20.

Insider Buying and Selling

In other news, insider Karole Morgan-Prager sold 27,079 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the transaction, the insider now owns 113,865 shares in the company, valued at approximately $6,838,731.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Karole Morgan-Prager sold 27,079 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $60.06, for a total value of $1,626,364.74. Following the completion of the sale, the insider now owns 113,865 shares of the company’s stock, valued at approximately $6,838,731.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Mark Woodhams sold 1,387 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the transaction, the executive now owns 97,582 shares in the company, valued at approximately $5,044,989.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,873 shares of company stock valued at $7,840,243 in the last 90 days. Company insiders own 9.53% 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.