BlackLine (NASDAQ:BL) Posts Earnings Results, Misses Estimates By $0.29 EPS

BlackLine (NASDAQ:BL) posted its earnings results on Tuesday. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29), Zacks reports. BlackLine had a net margin of 19.83% and a return on equity of 31.02%.

BlackLine Stock Down 1.6 %

NASDAQ BL traded down $1.01 on Tuesday, hitting $63.40. 704,100 shares of the stock traded hands, compared to its average volume of 556,331. The company has a market capitalization of $3.96 billion, a P/E ratio of 64.69, a price-to-earnings-growth ratio of 9.14 and a beta of 0.92. The stock has a 50-day moving average of $61.80 and a 200 day moving average of $56.58. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42. BlackLine has a twelve month low of $43.37 and a twelve month high of $69.31.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 24,408 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the completion of the transaction, the executive now directly owns 72,920 shares of the company’s stock, valued at approximately $4,690,214.40. This represents a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BL shares. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 target price on shares of BlackLine in a research report on Wednesday, January 15th. StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Piper Sandler lowered shares of BlackLine from a “neutral” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research note on Monday, January 6th. Citigroup upgraded shares of BlackLine from a “neutral” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Thursday, January 16th. Finally, Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackLine has an average rating of “Hold” and a consensus price target of $68.10.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.