BlackLine (BL) to Release Earnings on Tuesday

BlackLine (NASDAQ:BL - Get Free Report) is scheduled to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect BlackLine to post earnings of $0.47 per share for the quarter. Individual that are interested in registering for the company's earnings conference call can do so using this link.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, topping 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 business 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 Price Performance

Shares of NASDAQ:BL traded down $2.23 during trading on Tuesday, reaching $58.05. 914,596 shares of the company's stock traded hands, compared to its average volume of 894,836. The firm has a market cap of $3.59 billion, a PE ratio of -580.50, a P/E/G ratio of 10.81 and a beta of 0.86. BlackLine has a fifty-two week low of $47.26 and a fifty-two week high of $69.31. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37. The company has a 50-day simple moving average of $62.17 and a 200-day simple moving average of $59.45.

Insider Activity

In other BlackLine news, Director Thomas Unterman sold 750 shares of the firm's stock in a transaction 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 sale, the director now directly owns 51,470 shares of the company's stock, valued at approximately $3,088,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Thomas Unterman sold 750 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now owns 51,470 shares in the company, valued at approximately $3,088,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $632,500. The disclosure for this sale can be found here. Company insiders own 9.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BL. Wolfe Research started coverage on BlackLine in a research note on Monday, March 18th. They set a "peer perform" rating for the company. Piper Sandler raised shares of BlackLine from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $55.00 to $62.00 in a report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their price target 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. William Blair lowered shares of BlackLine from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 14th. Finally, JMP Securities reiterated a "market outperform" rating and set a $81.00 price objective on shares of BlackLine in a research note on Wednesday, February 14th. Two 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $62.20.

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.