BlackLine (BL) to Release Quarterly Earnings on Tuesday

BlackLine (NASDAQ:BL) is scheduled to announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.26 by $0.28. The business had revenue of $155.73 million during the quarter, compared to analyst estimates of $154.24 million. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. On average, analysts expect BlackLine to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackLine Stock Down 1.3 %

BlackLine stock traded down $0.77 during mid-day trading on Tuesday, hitting $59.51. The company’s stock had a trading volume of 90,214 shares, compared to its average volume of 886,154. The stock’s fifty day moving average price is $62.16 and its two-hundred day moving average price is $59.41. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 4.37. BlackLine has a twelve month low of $47.26 and a twelve month high of $69.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of BlackLine from $65.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Citigroup decreased their target price on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. The Goldman Sachs Group upped their price target on shares of BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a research note on Tuesday, January 23rd. William Blair downgraded BlackLine from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.20.

Insiders Place Their Bets

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

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.