BlackLine (BL) Set to Announce Quarterly Earnings on Thursday

BlackLine (NASDAQ:BL) is scheduled 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 listen to the company’s earnings conference call can do so using this link.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The business had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $158.21 million. During the same period last year, the firm posted ($0.69) earnings per share. The business’s 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 during mid-day trading on Tuesday, reaching $55.09. 43,116 shares of the company traded hands, compared to its average volume of 880,732. The firm has a market cap of $3.42 billion, a PE ratio of 61.23, a price-to-earnings-growth ratio of 13.60 and a beta of 0.90. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. BlackLine has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The stock has a fifty day simple moving average of $53.19 and a 200-day simple moving average of $51.61.

Insider Buying and Selling at BlackLine

In other BlackLine news, insider Karole Morgan-Prager sold 27,079 shares of the 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 in the company, valued at $6,838,731.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the sale, the chief financial officer now directly owns 226,844 shares in the company, valued at $12,022,732. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karole Morgan-Prager sold 27,079 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was 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 owns 113,865 shares in the company, valued at $6,838,731.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,873 shares of company stock valued at $8,340,243 in the last 90 days. 9.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BL. 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. Piper Sandler lowered their price objective on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Truist Financial raised their target price on shares of BlackLine from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. BTIG Research dropped 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. Finally, Robert W. Baird reduced their price objective on BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.20.

BlackLine Company Profile

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.