BlackLine (BL) to Release Earnings on Thursday

BlackLine (NASDAQ:BL) is scheduled 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. Individual that wish to register for the company’s earnings conference call can do so using this link.

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

BL opened at $55.99 on Wednesday. The firm has a market cap of $3.48 billion, a PE ratio of 62.21, a P/E/G ratio of 13.60 and a beta of 0.90. The stock has a 50-day moving average price of $53.31 and a 200-day moving average price of $51.60. BlackLine has a 1 year low of $43.37 and a 1 year high of $69.31. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95.

Insider Buying and Selling

In other BlackLine 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 transaction, the insider now directly owns 113,865 shares in the company, valued at $6,838,731.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BlackLine news, insider Karole Morgan-Prager sold 27,079 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 113,865 shares of the company’s stock, valued at $6,838,731.90. This trade 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 the SEC website. Also, Director Barbara Whye sold 5,378 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total value of $279,709.78. Following the completion of the transaction, the director now owns 6,777 shares in the company, valued at $352,471.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,873 shares of company stock valued at $7,840,243. 9.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BL has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. JMP Securities restated a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a report on Monday, July 15th. Robert W. Baird lowered their price objective on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley raised BlackLine from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $70.00 in a report on Monday, September 30th. Finally, BTIG Research decreased their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.