BlackLine (BL) Set to Announce Quarterly Earnings on Tuesday

BlackLine (NASDAQ:BL) is set to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect BlackLine to post earnings of $0.47 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.28. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. The firm had revenue of $155.73 million during the quarter, compared to the consensus estimate 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 Stock Up 2.0 %

NASDAQ:BL opened at $60.91 on Monday. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market cap of $3.76 billion, a PE ratio of -609.10, a price-to-earnings-growth ratio of 10.82 and a beta of 0.87. The company has a 50-day moving average of $62.35 and a 200 day moving average of $59.54. BlackLine has a 1-year low of $47.26 and a 1-year high of $69.31.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. William Blair downgraded shares of BlackLine from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Citigroup dropped their target price on BlackLine from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their price target on BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. JMP Securities reaffirmed a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research report on Wednesday, February 14th. Finally, Wolfe Research initiated coverage on BlackLine in a research note on Monday, March 18th. They issued a “peer perform” rating on the stock. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.56.

Insider Buying and Selling

In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total transaction of $166,866.00. Following the transaction, the executive now owns 104,682 shares in the company, valued at approximately $6,071,556. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $57.50, for a total transaction of $258,750.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $632,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total transaction of $166,866.00. Following the completion of the transaction, the executive now owns 104,682 shares in the company, valued at approximately $6,071,556. The disclosure for this sale can be found here. 9.93% of the stock is owned by company insiders.

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.