BlackLine (BL) to Release Quarterly Earnings on Tuesday

BlackLine (NASDAQ:BL) is set to issue 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 interested in listening to the company’s conference call can do so using this link.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.28. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. The firm had revenue of $155.73 million for the quarter, compared to analyst estimates of $154.24 million. 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

NASDAQ:BL traded down $0.77 during trading hours on Tuesday, hitting $59.51. 90,214 shares of the stock were exchanged, compared to its average volume of 886,154. The firm’s fifty day moving average price is $62.16 and its 200 day moving average price is $59.41. BlackLine has a 52-week low of $47.26 and a 52-week high of $69.31. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19.

Insiders Place Their Bets

In related news, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $632,500. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other BlackLine news, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $632,500. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas Unterman sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $60.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 51,470 shares in the company, valued at $3,088,200. The disclosure for this sale can be found here. 9.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BL. JMP Securities restated a “market outperform” rating and issued a $81.00 price target on shares of BlackLine in a research report on Wednesday, February 14th. JPMorgan Chase & Co. cut their target price on BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Robert W. Baird reduced their price target on BlackLine from $65.00 to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Citigroup cut their price objective on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Finally, Wolfe Research assumed coverage on BlackLine in a research note on Monday, March 18th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.20.

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.